Cadeler Lists on Euronext Oslo Børs, Opens Rotterdam Office

Offshore wind installation company Cadeler has completed its parent company's move from Denmark to the UK, with the new entity, Cadeler plc, admitted to trading on Euronext Oslo Børs. The company has also opened an office in Rotterdam to strengthen its presence in one of Europe's main maritime and offshore wind hubs. The new parent replaces Cadeler A/S, and trading in the Danish company's shares has been suspended ahead of delisting.

 

Re-domiciliation to the UK

 

The re-domiciliation was carried out through a voluntary share exchange offer, in which Cadeler A/S shareholders received one Cadeler plc share for each share they held. The offer achieved an acceptance rate of 92.06 percent, and Cadeler plc is now the group's parent company. Remaining Cadeler A/S shares are expected to be delisted once a compulsory acquisition process is completed. The group's board composition, including its chair and vice chair, carries over unchanged to the new parent.

Cadeler says moving its parent to the UK better reflects the international nature of its business and its growing presence in one of the world's most important offshore wind markets. The UK has one of the largest offshore wind pipelines in Europe, and Cadeler already operates an office in Norwich, where the new parent company is headquartered. The structure may also help the company engage more closely with UK clients, investors and policymakers. The move aligns its corporate base with a core operating market.

 

First Day of Trading

 

A total of 355,404,839 Cadeler plc shares were admitted to trading on Euronext Oslo Børs. The shares opened at NKr59 each, giving the company a market value of about NKr21 billion on its first day of trading. Cadeler plc shares also began trading on the New York Stock Exchange at the same time, maintaining the group's dual listing. In Oslo the company trades under the ticker CADLR, while on the NYSE it trades as CDLR.

Chief Executive Mikkel Gleerup said the acceptance rate above 92 percent reflected shareholder confidence in the strategic case for the move. He said the new corporate structure better reflects the scale and global reach of Cadeler's operations. Gleerup also welcomed the continued listing on Euronext Oslo Børs, which he described as a steady source of support since the company first listed there in 2020. Retaining the Oslo listing preserves access to a Norwegian investor base familiar with offshore and maritime stocks.

 

The New Rotterdam Office

 

Cadeler has opened an office in Rotterdam to house operations, engineering, and technical teams supporting its activities in the Netherlands and beyond. Rotterdam offers an established maritime and offshore cluster with access to specialist expertise, industry partners and a wide network of maritime services. The office is Cadeler's fifth worldwide, joining Copenhagen, Vejle, Norwich and Taipei. It gives the company a permanent base close to Dutch offshore wind projects and supply chain partners.

Karel Wagner, VP, Head of Asset Development and General Manager Netherlands, said the office and staff are already operating in Rotterdam. He said the base will strengthen Cadeler's maritime, operations, engineering and technical teams. It will also allow closer work with local partners and more direct involvement in projects in the Netherlands and across Europe. The Netherlands has an ambitious offshore wind build-out plan, making a local presence commercially valuable.

 

Read More: https://oceaneconomist.com/articles/nov-cadeler-jackup-vessel-contracts

 

Broadening Across the Value Chain

 

The Rotterdam opening comes as Cadeler expands its services beyond its core business of transporting and installing wind turbines. In recent years, it has developed full-scope foundation transport and installation capabilities and strengthened its operations and maintenance offering. These services build on its fleet of 11 jack-up installation vessels, which the company says is the largest in the industry. A wider service range allows Cadeler to bid for more of each project's work and to keep its vessels busy across different project phases.

The strategy reflects changes in the offshore wind market, where developers increasingly prefer contractors able to handle several scopes under one agreement. Foundations, turbines and long-term maintenance each require different vessel capabilities and planning skills. By offering all three, Cadeler can deepen client relationships and smooth out gaps between installation campaigns. The company recently signed a firm contract to support turbine installation at the Dogger Bank C wind farm, adding to its project backlog.

 

Significance for Cadeler's Growth

 

Taken together, the listing and the new office mark a period of structural change for Cadeler. The UK parent gives the group a corporate base matched to one of its most important markets, while the dual Oslo and New York listing keeps it accessible to both European and US investors. The Rotterdam office adds operational depth in the Netherlands, another major offshore wind market. Both moves are designed to support long-term growth as installation demand rises.

The broader offshore wind sector remains challenging, with cost pressures, supply chain constraints and delayed investment decisions affecting several projects. Installation vessel owners with large modern fleets are relatively well placed, since specialized jack-up capacity remains limited. Cadeler's next financial update, for the third quarter of 2026, is scheduled for 23 November. Investors will be watching for evidence that its expanded services and new structure are translating into a stronger order book.

 

Source: Cadeler