DOF Subsea eyes Oslo listing

DOF Subsea eyes Oslo listing

DOF Subsea, which is currently 51% owned by DOF and 49% owned by a First Reserve fund, says that it has started looking at the possibility of listing on Oslo Stock Exchange.

The company had been listed previously from 2005-2008, and as part of a new listing new shares would be issued while First Reserve would sell some of its existing shares, while remaining a significant shareholder.

DOF plans to maintain its current level of ownership, and will participate in the cash issue as well as contribute in the form of two subsea vessels it currently owns, and options to acquire two further vessels.

DOF Subsea said that proceeds raised would provide the company with flexibility to decisively pursue further growth opportunities and enhance competitiveness ahead of an anticipated market recovery.

The company currently owns and operates 21 subsea vessels and 69 ROVs.

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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