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Hong Kong, [9] October 2026 – Cetus Maritime Holdings Limited (“Cetus” or the “Company”, and together with its subsidiaries, the “Group”) today announces that it is considering a potential listing of the Company’s shares on Euronext Growth Oslo (the “Listing”). No final decision has been made, and the Listing will be subject to, among other things, the Company submitting an application for admission to trading, approval from the Oslo Stock Exchange and prevailing market conditions.
Cetus is an international dry bulk shipping company that owns, operates and manages a fleet of geared bulk carriers in the Handysize and Ultramax segments. The Group traces its history back to 2004, when its direct predecessor Oriental Steamship Limited was founded, and the Group in its current form was established in January 2023 through the merger of Asia Maritime Pacific and HBC Hamburg Bulk Carriers.
On a fully delivered basis, and following completion o f the Pre-Listing Acquisition (as defined below), the Group will operate a fleet of 43 vessels, of which 35 are currently on the water and owned, leased or chartered-in by the Group, and eight are new buildings under construction at leading shipyards, with deliveries scheduled from 2027 to 2028. The Group operates as an “operator”, meaning that it maintains a diversified cargo book of dry bulk transportation business which it performs on its owned and chartered-in vessels, primarily in the spot and short-term charter markets. The Group's cargo base includes steel products, grains, agricultural products, concentrates and forest products; no single cargo represents more than 15% of the Group’s annual cargo carried, and no single customer represents more than 5% of its overall business.
Pre-Listing Acquisition
Prior to the Listing, the Company expects to complete the acquisition of (i) 13 Handysize & Ultramax vessels from Seacon Shipping Group Holdings Limited ("Seacon") and (ii) Syngrace Limited, a vessel-owning subsidiary holding shipbuilding contracts for three Handysize vessels from CIMC Qianhai Commerce and Trading Co. Limited (together, the "Pre-Listing Acquisition"). The Pre-Listing Acquisition is a continuation of the Group’s fleet modernisation strategy and is expected to add 16 large, modern ECO vessels to the platform.
The transaction consideration (the "Acquisition Price") is calculated as the gross asset value of the captioned vessels (based on the average of two independent broker valuations as at 30 June 2026), less financial indebtedness and long-term lease liabilities of the acquisition SPVs (if any), plus/minus other balance sheet adjustments. The Acquisition Price is to be settled partly in cash at closing (the "Cash Consideration"), and partly through issuance of new shares in the Company to Seacon. Seacon will thereby become a strategic cornerstone shareholder of the Company.
Advisers:
Clarksons Securities AS, DNB Carnegie, a part of DNB Bank ASA and Nordea Bank Abp NUF are engaged to assist in the Listing and further process (the "Managers").
For further information, please contact: Tabitha Logan tlogan@cetusmaritime.com
+852 2147 2010
These materials do not constitute or form a part of any offer of securities for sale or a solicitation of an offer to purchase securities of Cetus Maritime Holdings Limited in the United States or any other jurisdiction. The securities of the Company may not be offered or sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the "U.S. Securities "U.S. Securities Act"). The securities of the Company have not been, and will not be, registered under the U.S. Securities Act. Any sale in the United States of these securities mentioned in this communication will be made solely to "qualified institutional buyers" as defined in Rule 144A under the U.S. Securities Act. No public offering of the securities will be made in the United States. In any EEA Member State, this communication is only addressed to and is only directed at qualified investors in that Member State within the meaning of the EU Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such EEA Member State. The expression"EU Prospectus Regulation" means Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 (together with any applicable implementing measures in any Member State). In the United Kingdom, this communication is only addressed to and is only directed at Qualified Investors who (i) are investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the "Order") or (ii) are persons falling within Article49(2)(a) to (d) of the Order (high net worth companies, unincorporated associations, etc.) (all such persons together being referred to as "RelevantPersons"). These materials are directed only at Relevant Persons and must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this announcement relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so. This statement contains certain forward-looking statements concerning future events, including possible issuance of equity securities of the Company. Forward-looking statements are statements that are not historical facts and may be identified by words such as "anticipate","believe", "continue", "estimate","expect", "intends", "may", "should","will" and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Actual events may differ significantly from any anticipated development due to a number of factors, including without limitation, changes in investment levels and need for the Company's services, changes in the general economic, political and market conditions in the markets in which the Company operates, the Company's ability to attract, retain and motivate qualified personnel, changes in the Company's ability to engage in commercially acceptable acquisitions and strategic investments, and changes in laws and regulations and the potential impact of legal proceedings and actions. Such risks, uncertainties, contingencies and other important factors include, but are not limited to, the possibility that we will determine not to, or be unable to, issue any equity securities, and could cause actual events to differ materially from the expectations expressed or implied in this release by suchforward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. Each of the Company, the Managers and their respective affiliates expressly disclaims any obligation or undertaking to update, review or revise any statement contained in this announcement whether as a result of new information, future developments or otherwise. The Managers are acting exclusively for the Company and no one else and will not be responsible to anyone other than the Company for providing the protections afforded to their respective clients, or for advice in relation to the contents of this announcement or any of the matters referred to herein. Neither the Managers nor any of their respective affiliates makes any representation as to the accuracy or completeness of this announcement and none of them accepts any responsibility for the contents of this announcement or any matters referred to herein. This announcement is for information purposes only. It is not intended as investment advice and under no circumstances is it to be used or considered as an offer to sell, or a solicitation of an offer to buy any securities or a recommendation to buy or sell any securities of the Company. Neither the Managers nor any of their respective affiliates accepts any liability arising from the use of this announcement. The Listing may be influenced by a range of circumstances, such as market conditions, and there is no guarantee that the Listing will occur. Certain figures contained in this document, including financial information, may have been subject to rounding adjustments. Accordingly, in certain instances, the sum or percentage change of the numbers contained in this document may not conform exactly with the total figure given. The distribution of this announcement and other information may be restricted by law in certain jurisdictions. Persons into whose possession this announcement or such other information should come are required to inform themselves about and to observe any such restrictions. Specifically, neither this announcement nor the information contained herein is for publication, distribution or release, in whole or in part, directly or indirectly, in or into or from the United States (including its territories and possessions, any State of the United States and the District of Columbia), Australia, Canada, Hong Kong, Japan or any other jurisdiction where to do so would constitute a violation of the relevant laws of such jurisdiction. The publication, distribution or release of this announcement may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein comes should inform themselves about and observe any such restriction. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
