Fred. Olsen Windcarrier sets Oslo IPO stock price

Wind service operator Fred. Olsen Windcarrier is headed for the Oslo Stock Exchange, and the company now puts a price on its forthcoming shares, valued at more than NOK 2.5bn (USD 281m).

BY DANIEL LOGAN, TRANSLATED BY CHRISTOFFER ØSTERGAARD

When Fred. Olsen Windcarrier goes public on the stock exchange in Oslo, the company plans to sell shares for NOK 50-55 apiece.

Overall, the wind carrier will issue up to 26 million shares, giving the company a total price of NOK 2.5-2.75bn, according to an announcement regarding the prospectus.

The 26 million shares are expected to bring in NOK 1.4bn.

In relation to the listing, group Bonheur, which through subsidiary Fred. Olsen Ocean owns the entire wind carrier, has announced its intention to acquire shares for roughly NOK 250m.

The money will be used to finance the equity portion of the newbuilds the company plans to order, as well as for ”general corporate purposes,” according to the statement.

Fred. Olsen Windcarrier has stakes in three so-called transport and installation (T&I) jack-up rigs. The company installs wind turbines offshore and provides service and maintenance for existing wind turbines.

(This article was provided by our sister media ShippingWatch)

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