Its stock climbed to a high of NOK 124 ($20.79) each in early trading and its shares are presently changing hands at their IPO price of NOK 122 each.

Stock worth NOK 38.63m had been traded at the time of writing on Tuesday morning.

Avance’s stable start came as the main Oslo index slipped 0.16%.

The Oslo Shipping Index, which includes big names Western Bulk, Frontline, Wilh Wilhelmsen and Royal Caribbean, fell 0.43%.

Avance’s