Shelf Drilling to list in Oslo on Monday

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 worked for a number of logistics firms following his English degree, then switched this hands-on experience to writing and has since become one the most prolific writers on the diverse China logistics industry writing for a host of titles including Supply Chain Asia, Cargo Facts and Air Cargo Week. Jason’s access to the biggest shippers with business in China has proved an invaluable source of exclusives.

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