Oslo-listed shipowner Eidesvik Offshore has raised NOK130m ($12.5m) through a private placement to fund its share of the equity in the shipowning joint venture with compatriot offshore services player Reach Subsea.
The company allocated around 10.8m shares at a price of NOK12 each, of which nearly 6.5m went to the company’s largest shareholder Eidesvik Invest. Vest-Norsk Handelskompani, represented by Kristine Elisabeth Skeie on Eidesvik’s board was allocated 166,666 shares.
A subsequent offering of 2m shares at the same price was also launched for existing shareholders who did not take part in the private placement.
Earlier this year, Eidesvik and Reach formed a JV for the ownership and operation of the subsea vessel Edda Sun, in which Eidesvik will be a majority stakeholder with 50.1%.
, in which Eidesvik will be a majority stakeholder with 50.1%.The 2009-built vessel, which came with a price tag of $29m, will be renamed Viking Reach and go on a six-year contract with Reach Subsea in the second quarter of 2023. Eidesvik will provide full technical management, crewing and operation of the vessel.
