Newcastlemax owner Himalaya Shipping has joined Oslo's over-the-counter (OTC) market after completing a private placement of its shares.

The shipowner, which is backed by Tor Olav Troim, has confirmed its plans to target a public listing on the Oslo Stock Exchange by the end of this year.

Himalaya this month raised $30m to partly fund its dozen newcastlemax newbuildings by completing a private placement of its shares.