Capital Tankers Corp., interests of Evangelos Marinakis, has successfully completed the largest capital raising ever carried out by a shipping company on the Oslo Stock Exchange, confirming that Greek shipping continues to make history in the international capital markets.
The total size of the offering ultimately reached $500 million, with overall demand multiple times exceeding the initial offer, reflecting both the strength of the transaction and the intense investor appetite.
Based on the final amount of capital raised, the transaction ranks among the largest capital raises by a shipping company globally and unquestionably as the largest ever for a shipping company on the Norwegian stock exchange.
Strong Investor Base and $2.0 Billion Market Capitalization
Capital Tankers Corp. is preparing to list on Euronext Growth Oslo with a market capitalization of nearly $2.0 billion and an offer price of NOK 134 per share. A 26% stake has been allocated to the public, with emphasis on high-quality, long-term institutional investors, while Capital Maritime & Trading retains 74%.
Trading of the shares under the ticker “CAPT” is expected to commence on March 17, 2026. The process includes a greenshoe, allowing for over-allotment and share purchases within the designated time window.
A “Pure Play” in Crude Tankers with a State-of-the-Art Fleet
Capital Tankers Corp., a spin-off from Capital Maritime & Trading, represents a “pure play” in the crude tanker segment. The company operates a fleet of 30 tankers (VLCCs, Suezmax and Aframax/LR2), with a total estimated value of $3.5 billion.
Of the 30 vessels, eight are already on the water, while 22 newbuild vessels are under construction with deliveries scheduled between 2026 and 2028. In addition, the company holds options for up to 13 additional newbuild vessels, bringing its total enterprise value to $5.1 billion and positioning it among the largest owners of crude tankers worldwide.
A key competitive advantage lies in the fact that a significant portion of the fleet is LNG dual-fuel capable or LNG-ready, featuring advanced technological specifications that enhance energy efficiency and fuel flexibility. In an environment of increasingly stringent regulations — from the EU ETS and FuelEU Maritime to IMO initiatives — this technological positioning provides strategic depth and long-term resilience.
Allocation of the $500 Million Proceeds
The proceeds of the public offering will primarily be directed toward financing the company’s investment program, supporting working capital, covering transaction costs, and funding general corporate purposes.
In response to strong interest from Norwegian and international investors, management decided to increase the base offering from approximately $300 million to $435 million, and to expand the additional share component from $45 million to $65 million, ultimately bringing the total offering size to $500 million. This decision reflects both market confidence and a strategic focus on building a robust capital base.
Oslo and the Next Chapter
The Oslo Stock Exchange has evolved into a leading platform for shipping listings, supported by a specialized investor base and a long-standing maritime tradition. For the Capital Group, this new listing represents another strategic step in its international expansion, following the successful trajectory of Capital Clean Energy Carriers on the NASDAQ, with a market capitalization of approximately $1.4 billion.
However, the plan does not end here. Capital Tankers is also planning a parallel listing in the United States, on the New York Stock Exchange.
The success of Capital Tankers Corp. is more than just another transaction. It represents the second largest shipping IPO in history and underscores the strong track record of the Capital maritime group, as shipping companies affiliated with Evangelos Marinakis have executed three of the ten largest shipping IPOs globally.
At the same time, it constitutes a powerful vote of confidence in Greek shipping, in the strategy of fleet renewal with green characteristics, and in the ability of Greek shipping groups to raise capital in demanding international markets. It is a strong reminder that, despite geopolitical turbulence, energy transitions and mounting regulatory pressures, the shipping industry remains capable of mobilizing large-scale capital from the world’s most sophisticated markets — and continuing to impress.
