Harry Vafias – New company with tankers on the American Stock Exchange

StealthGas’ Harry Vafias plans to list a new company on the US stock exchange.

In particular, StealthGas, the NYSE-listed shipping company of Harry Vafias, which is mainly active in the transportation of LPG, announced that it is proceeding with the creation of a new company of Imperial Petroleum which will contribute the four tankers that StealthGas has in its fleet.

StealthGas will also distribute all common stock and preferred shares (Series A Preferred Shares) of Imperial Petroleum to StealthGas shareholders.

The new company has applied to trade its shares in the Nasdaq market.

The transaction is expected to be completed in early December 2021.

The board of StealthGas believes that setting up two companies in different segments of the shipping industry – LPG and tankers – will bring significant benefits to both companies and their shareholders.

StealthGas Inc. controls a fleet of 49 vessels, 45 of which are LPG Carriers and four tankers, three crude oil and one aframax.