Greece’s Capital Tankers Corp, a tanker owner linked to Evangelos Marinakis-led Capital Maritime & Trading, is preparing to list in Oslo, backed by a large crude tanker orderbook and plans to raise up to about $345m.

The Athens-based owner aims to raise the NOK equivalent of about $300m through the share sale, with a further $45m available through an over-allotment option. Shares will be offered at NOK134 each, with trading expected to begin around March 17. The offer price represents a pre-money equity value of the company of about NOK13.4bn. Proceeds will be used mainly to fund newbuilding commitments, alongside working capital and general corporate purposes, the company said.

Capital Tankers is entering the public markets with a fleet of 30 crude carriers, including 12 VLCCs, 10 suezmaxes and eight aframax/LR2 vessels. Only three ships are currently trading, while five more are due for delivery within three months of the listing. The remaining 22 vessels are under construction.

The company also holds options for 13 additional newbuildings exercisable until the end of 2026, as well as rights of first refusal on further tanker tonnage and employment opportunities sourced from Capital Maritime for up to 10 years after listing.

Capital Tankers said it plans to trade mainly in the spot and short-term markets, aiming to benefit from tanker rate volatility while maintaining a competitive cost base.

After the Oslo debut, the company said it may consider moving to the main Oslo exchange and potentially pursuing a US dual listing. Fearnley Securities and Pareto Securities have been appointed as joint global coordinators, with Clarksons Securities and SB1 Markets acting as joint bookrunners for the planned private placement and listing on Euronext Growth Oslo.