Following the merger driven by the BW Group which acquired a 43.5% stake in Hafnia Tankers in July 2018, the combined company is to be known as 'Hafnia' and is being prepared for an IPO on a renowned but unnamed stock exchange.
In a statement released ahead of the Extraordinary General Meeting to be held on 10 January 2019, the management team will reveal the due diligence and valuation process behind the merger to shareholders.
Hafnia emphasised that this is a true merger with the management team consisting of a mixture of BW and Hafnia staff including Mikael Skov (chief executive) and Perry Van Echtelt (chief financial officer).
The finance and technical management teams will be based in Singapore and the commercial management will be headquartered in Copenhagen.
The board of directors of Hafnia is preparing for the IPO by bringing in external directors including the former chief executive of BP, John Ridgway and the founder and former senior partner of Pareto Securities, Erik Bartnes. Hafnia’s chairman of the board is BW Group chairman Andreas Sohmen-Pao.
Business, operational and technical issues impacting the crude, product and chemical tanker trades will be discussed at the Asian Tanker Conference in Singapore in February.