John Fredriksen and Idan Ofer have undertaken to acquire shares in the initial public offering (IPO) of the Norwegian offshore wind service company Edda Wind, owned by Wilhelmsen and Østensjø, which plans to list on the Oslo Stock Exchange.
The IPO will comprise an offering of new shares in the company, expected to raise gross proceeds of NOK875m.
Fredriksen and Ofer have committed to invest NOK200m ($23.3m) each through Geveran Trading and Xclat Holdings respectively, in addition to Nordea Investment Management which has undertaken to acquire shares for NOK65m in the IPO.
Geveran and Xclat will join Edda Wind’s board of directors, with effect from the first day of trading on the Oslo, and take an active role in the company’s further development.
Cyril Ducau, CEO of Idan Ofer-controlled Eastern Pacific Shipping, commented: “Edda Wind’s environmentally friendly and growing fleet is zero-emission ready and its newbuilds will be equipped with energy efficient battery hybrid propulsion systems, enabling a greener future. This investment in Edda Wind underscores a commitment towards environmental protection for future generations.”
Edda Wind currently owns and operates two purpose-built offshore wind SOVs and has six dedicated offshore wind vessels under construction, two offshore wind SOVs and four offshore wind CSOVs, with delivery from 2022. The company said it is currently in the process of evaluating further newbuild opportunities.
“Geveran and Xclat will further broaden the international network and strengthen the shipping competence and experience of the company. Edda Wind will have an unmatched global position for further growth and value creation,” said Håvard Framnes, chairman of Edda Wind.