Toro plans spin-off of LPG carrier business as AI OKTO, adds $45 million cash
TORO•Leadership and listing approvals
Petros Panagiotidis is slated to serve as chairman and CEO of AI OKTO following the separation.
The transaction remains subject to SEC effectiveness of AI OKTO’s Form 20-F registration statement and Nasdaq listing approval.
Toro plans separation of LPG carrier business
Toro plans to separate its LPG carrier business into AI OKTO, which is expected to list on Nasdaq’s Capital Market.
Initial assets are set to include two LPG carriers, LPG Dream Arrax and LPG Dream Vermax, with $45 million in cash.
