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Seadrill makes NYSE comeback

Offshore driller Seadrill has received approval to relist its common shares on the New York Stock Exchange.

The company, which emerged from bankruptcy protection this year, said it expects the trading to commence on or about October 14.

Seadrill was delisted from NYSE in June 2020 after its shares closed below the minimum threshold of $1 over a period of 30 consecutive days.

“Our participation in the US public markets should provide additional liquidity in our stock and provide access to new investors,” remarked Simon Johnson, Seadrill’s chief executive.

In April, the company founded in 2005 by Norwegian tycoon John Fredriksen, listed on Euronext Expand Oslo and is expected to uplist to the main market of the Oslo Stock Exchange later this year.

Earlier this year, Houston-based Diamond Offshore Drilling also made its comeback on the NYSE after exiting chapter 11 in April 2021.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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