Middle EastOffshore

Shelf Drilling to list in Oslo on Monday

UAE-based offshore driller Shelf Drilling has completed the bookbuilding process for its initial public offering on the Oslo Stock Exchange.

Earlier this week, Shelf Drilling said its upcoming IPO is oversubscribed.

The company will issue 29.125m new common shares at NOK63.35 ($8) per share to raise approximately $225m proceeds from the IPO. The proceeds will be used to redeem all the preferred shares and acquire a premium jack-up rig.

Trading of the securities of Shelf Drilling on Oslo Stock Exchange will commence on June 25.

Jason Jiang

Jason is one of the most prolific writers on the diverse China shipping & logistics industry and his access to the major maritime players with business in China has proved an invaluable source of exclusives. Having been working at Asia Shipping Media since inception, Jason is the chief correspondent of Splash and associate editor of Maritime CEO magazine. Previously he had written for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week.
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