The Company is pleased to announce that the Private Placement was successfully placed, raising gross proceeds of USD 65 million (approximately NOK 500 million) through the subscription of 17,600,000 shares at a subscription price of NOK 29 per share. The net proceeds from the Private Placement will be used to part finance the equity requirement for the building of a new semisubmersible drilling rig for harsh environment use, to be built by the premium yard KeppelFELS in Singapore at a price of approximately USD 425 million, and with planned delivery in 2021.

Published: 1 Mar, 2018