Grindrod Shipping Begins Trading on NASDAQ
- Business & Finance
Grindrod Shipping Holdings, a Singapore-based provider of maritime transportation services in the drybulk and liquid-bulk sectors, began trading on NASDAQ on June 18.
Grindrod Shipping holds the shipping business spun out of Grindrod Limited, a company listed on the Johannesburg Stock Exchange.
Following the listing, Grindrod Shipping will be an independent, publicly traded company with separate public ownership.
“Grindrod has been involved in various segments of the shipping and transport industry for more than 100 years. As a separate and independent entity, Grindrod Shipping will be able to pursue a growth strategy focusing only on the shipping business,” Martyn Wade, Chief Executive Officer of Grindrod Shipping, commented.
“New York has been the destination of choice for the majority of global shipping companies and we are pleased to join the NASDAQ platform as we position the company for the next phase of its development,” Wade added.
As informed, Grindrod Shipping will have a primary listing on Nasdaq under the ticker GRIN and a secondary listing on the JSE under the ticker GSH effective as of June 19, 2018.
Grindrod Shipping owns and operates a fleet of owned, long-term chartered-in and joint-venture owned drybulk and liquid-bulk vessels. The drybulk business, which operates under the brand Island View Shipping (IVS) includes a fleet of 20 Handysize and 12 Supramax drybulk carriers. The liquid-bulk business, which operates under the brand Unicorn Shipping includes a fleet of 11 Medium Range (MR) product tankers and four small tankers.