Bangkok: Mermaid Maritime, the offshore division belonging to Thoresen Thai Agencies, has said its associate company, Asia Offshore Drilling (AOD), has issued 20m new shares at $5 per unit raising $100m. The move is a precursor to a delisting.
Seadrill and Mermaid, the major shareholders in AOD, subscribed prorata to the entire share capital issue. Seadrill and Mermaid will own 66.18% and 33.76% of AOD respectively, post this transaction.
AOD will in the near future apply for delisting from the Oslo Stock Exchange, Mermaid noted in a release. [13/03/13]