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.