Odfjell Drilling to Go Ahead with IPO

The Oslo Stock Exchange reported Friday that it has received a request from Norway's Odfjell Drilling for the admission of its shares to the exchange. The news follows Odfjell's announcement at the end of August that it planned to launch an initial public offering (IPO) of its shares.

A report from the Reuters news agency said that the IPO would raise up to $455 million for the company, with trading in the shares set to begin on September 30. A spokesman for Odfjell confirmed to Rigzone that the firm would be selling up to 30 percent of the company's shares.

Odfjell offers a range of mobile offshore drilling units, platform drilling systems and well services. The company operates all over the world and includes Statoil, Shell and BP among its customers.



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