Höegh Autoliners listed on Euronext Growth

Höegh Autoliners ASA has today been admitted to trading on Euronext Growth in Oslo. Raising new equity of around NOK 1.2 bn through a private placement, which may increase by NOK 160 million following exercise of the greenshoe option, the Company is now in position to further accelerate its green transition, expand the fleet and strengthen its market leading low-to-zero emission transportation services to its customers.
 
Höegh Autoliners is one of the leading global providers of deep-sea RoRo transportation services, operating a fleet of around 40 Pure Car and Truck Carriers (“PCTC”) sailing in global trade systems. Offering safe and secure deep-sea transportation of cargo such as cars, high and heavy machinery and breakbulk, its customers include most of the leading global vehicle and equipment manufacturers.
 
A total of 57,500,000 new shares have been issued. The offering attracted strong interest from high quality investors and was multiple times oversubscribed. The main owner Leif Höegh & Co Holdings AS holds 48.4% following the listing, assuming that the greenshoe option is not exercised.
 
“Today, Höegh Autoliners reached a significant milestone in its continued strategic development, thanks to the great efforts by the whole organisation. This opens the next exciting chapter for the Company where we further strengthen our service offering and continue to lead the way towards a net zero emissions future for our industry”, said Leif O. Høegh, Höegh Autoliners Chair.
 
“Listing on Euronext Growth represents a strong vote of confidence in the Company’s long-term commitment and robust business model. I would like to thank our people, customers, investors, and partners for contributing to our success. The funds raised will enable us to accelerate our path to zero, expand the fleet and strengthen our market position in delivering low-to-zero emission transportation services to customers”, said Höegh Autoliners Chief Executive Officer, Andreas Enger.
 
Höegh Autoliners has a solid history on emission cuts and long-term efforts to combating climate change. The Company has since 2008 achieved an improved carbon intensity of 37% in its fleet. This has put Höegh Autoliners in the forefront in sustainable shipping in the deep-sea RoRo segment and close to meeting the IMO 2030-target of 40% reduction already.  

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