The owner of 13 LNG carriers said on Monday that Euronext Oslo Børs has decided to delist its shares.
According to Flex LNG, its shares will be delisted from Euronext Oslo Børs as of September 16, 2025.
The last day of listing will be September 15.
Earlier this year, outgoing CEO Øystein Kalleklev said that Flex LNG plans to delist its shares from the Oslo Stock Exchange, while maintaining its listing on the New York Stock Exchange.
Kalleklev said during Flex LNG’s earnings call that the decision is driven by the high costs of maintaining a dual listing given divergent regulation particulary EU’s corporate sustainability reporting directive (CSR) and central securities depository regulation (CSDR).
“We are listed in two places, in Oslo and in New York, and then we have to comply with both the US rules and the European Union rules,” he said, adding this is driving up costs for the company.
“It’s not like we want to avoid reporting on sustainability. We actually have provided our ESG report every year since 2018 where we give full disclosures on a lot of numbers according to the sustainability accounting standard board,” he said.
On top of that, Flex LNG has added the global reporting initiative, and based on feedback from investors, the company also added the carbon disclosure projects.
However, having to deal with two sorts of regulation is “quite costly,” he said.
Kalleklev said that “95 percent of our trading today is on the New York Stock Exchange.”
Additionally, NYSE is planning to increase their trading hours to 22 hours per day which will mitigate the loss of Oslo trading hours, he said.
