Overseas Shipholding Group, Inc announced that it has been approved by the New York Stock Exchange(â€œNYSEâ€) to transfer its stock listing to the NYSE from the NYSE MKT.
The Companyâ€™s common stock, which will continue to trade under the ticker symbol OSG, is expected to commence trading on theNYSE effective Tuesday, June 28, 2016. Prior to that date, the Companyâ€™s common stock will remain on the NYSE MKT, but trading on the NYSE MKT will cease concurrent with the listing of its common stock on the NYSE.
â€œOur return to the NYSE is an important milestone for the Company made possible by the hard work of our employees and the support of shareholders,â€ said Captain Ian T. Blackley, OSGâ€™s president and CEO. â€œWe believe listing on the NYSE, one of the worldâ€™s most prestigious stock exchanges, will enhance trading liquidity of our common stock and contribute to increasing shareholder value.â€
John Tuttle, Global Head of Listings at the NYSE, â€œWe congratulate OSG on its return to the NYSE and are proud to mark this exciting new chapter for the Company and its shareholders.â€
In recognition of the transfer, President and CEO Captain Ian T. Blackley along with members of the Company will ring The NYSE Opening Bell on Tuesday, June 28, 2016. The NYSE Opening Bell is broadcast live from the NYSE and interested parties may stream the ceremony live at 9:30am Eastern Time by visiting https://www.nyse.com/bell.
The approval to transfer its listing to the NYSE is contingent upon the Company being in compliance with all applicable listing standards on the date it begins trading on the NYSE, and may be rescinded if the Company is not in compliance with such standards on that date.
OSG provided the NYSE with additional information upon which the NYSE relied to list the common stock. Such information is included in OSGâ€™s original listing application and is available to the public upon request.
Overseas Shipholding Group, Inc. is a publicly traded tanker company providing energy transportation services for crude oil and petroleum products in the U.S. and International Flag markets. OSG is committed to setting high standards of excellence for its quality, safety and environmental programs. OSG is recognized as one of the worldâ€™s most customer-focused marine transportation companies and is headquartered in New York City, NY. More information is available at www.osg.com