Seward & Kissel advises FLEX LNG Ltd. in the Cross Listing of its Ordinary Shares on the New York Stock Exchange
June 27, 2019
Seward & Kissel LLP, a leading law firm in representing issuers in ground-breaking maritime financing transactions and in representing global corporations and financial institutions, advised FLEX LNG Ltd. (“Flex”), an exempted company incorporated under the laws of Bermuda, in the Cross Listing of its Ordinary Shares on the New York Stock Exchange (“NYSE”). Unlike a traditional initial public offering, a cross listing allows a foreign company already listed in its home market to list its shares and begin trading publicly on a U.S. exchange, without raising capital at the time of its listing.
As a result of the Cross Listing on the NYSE, Flex’s shares are listed and may be traded on both the NYSE and the Oslo Stock Exchange under the trading symbol “FLNG.” This process provides additional liquidity for investors that held Flex’s shares prior to its cross listing and enables Flex to raise capital in U.S. public markets.
The Seward & Kissel Corporate Team was led by Keith Billotti.