Volare Jumps in Oslo Debut as Wave of Shipping IPOs Builds

(Bloomberg) —

Volare Shipping Ltd. jumped on its first day of trading in Oslo on Monday after the spin-off arm of Trafigura Group Pte. became the latest in a spree of tanker listings in the Norwegian capital.

The shares were trading 6.9% up at 1:42 p.m. local time after raising about $500 million in a private share placement, valuing the firm at $1.2 billion.

Volare follows Capital Tankers Corp., which listed in Oslo in March, and OMC Tankers Ltd., which joined Euronext Growth in August. According to Euronext, Oslo is now Europe’s largest stock market for shipping companies by number of