Cadeler A/S has announced the successful completion of its share exchange offer, marking a significant milestone in its redomiciliation from Denmark to the United Kingdom. This strategic move is expected to enhance the company's operational efficiency and market presence, particularly as it begins trading on the New York Stock Exchange (NYSE) and the Oslo Stock Exchange (OSE).

The announcement was made on November 5, 2026, following the stock exchange announcement from Cadeler plc on November 2, 2026. The completion of the share exchange means that each shareholder of Cadeler A/S will now hold an equivalent number of shares in Cadeler plc, which is the new parent company.

Background

Cadeler A/S is a prominent player in the deep-sea foreign transportation of freight, specifically focusing on offshore wind installation services. The company is known for operating the industry's largest fleet of jack-up offshore wind installation vessels. Cadeler A/S is listed on the NYSE under the ticker CDLR and is also traded on the Oslo Stock Exchange.

What the Filing Says

According to the filing (accession number 0001978867-26-000146), Cadeler has successfully completed its share exchange offer. The filing states, "Cadeler today announce the completion of the Offer and first day of trading in the Cadeler Shares on the New York Stock Exchange and the Oslo Stock Exchange." This marks a significant transition for the company as it aligns its operational framework with its new corporate structure.

Impact

This development will affect shareholders of Cadeler A/S, as approximately 7.94% of them did not participate in the exchange. Those who did participate will see an increase in their relative shareholding by 8.62%. Furthermore, the redomiciliation may set a precedent for other companies in the deep-sea transportation industry, potentially leading to increased consolidation as firms navigate new regulatory landscapes.

What's Next

Following the completion of the share exchange, Cadeler intends to initiate a compulsory acquisition of the remaining shares not tendered in the exchange offer. This will be done in accordance with the Danish Companies Act, with a notice expected to be published around November 9, 2026. Additionally, Cadeler A/S plans to convene an extraordinary general meeting to approve the delisting of its shares from the Oslo Stock Exchange.