BW Offshore rights issue 34% oversubscribed

BW Offshore rights issue 34% oversubscribed

BW Offshore’s rights issue in Oslo was 34% oversubscribed with 11.5bn subscriptions for new common shares. The rights issue closed last Friday and was for 8.56bn new common shares of $0.01 each at a subscription price of NOK0.10 per offer share.

BW Offshore has a fleet of 14 owned FPSOs and one FSO. The company also operates two additional FPSOs.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.

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