What is the story about?
What's Happening?
CMB.TECH NV has announced preliminary figures for its second quarter of 2025, ahead of its scheduled earnings release on August 28, 2025. The company reported a revenue of $220 million, a gross profit of $120 million, and a net loss of $40 million. These figures are subject to finalization and may change upon the official release of the earnings report. The announcement comes as CMB.TECH is nearing a stock-for-stock merger with Golden Ocean Group Limited, expected to close around August 20, 2025. The merger involves exchanging Golden Ocean common shares for newly issued CMB.TECH ordinary shares at a ratio of 0.95 to 1, with approximately 95.95 million new shares to be issued upon closing.
Why It's Important?
The preliminary financial figures and upcoming merger with Golden Ocean Group Limited are significant for CMB.TECH as they indicate the company's strategic direction and financial health. The merger is expected to enhance CMB.TECH's market position and operational capabilities, potentially leading to increased shareholder value. The financial results will provide insights into the company's performance and the impact of the merger on its future operations. Investors and stakeholders are closely monitoring these developments, as they could influence stock prices and investment decisions.
What's Next?
The final earnings report will be released on August 28, 2025, accompanied by a conference call to discuss the results. The merger with Golden Ocean is subject to final shareholder approval, regulatory clearances, and secondary listing approval in Oslo. The companies anticipate the merger closing around August 20, 2025, which would also mark the first day of trading for the newly issued shares on NYSE, Euronext Brussels, and tentatively on Euronext Oslo Børs. Investors are encouraged to attend the conference call for further insights into CMB.TECH's financial performance and strategic plans.
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