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BW Pacific aims to raise at least $250m from Oslo IPO

BW Pacific aims to raise at least $250m from Oslo IPO
BW Pacific is aiming to raise at least $250m as it launches its initial public offering (IPO) on the Oslo Stock Exchange.

The company said the offering was expected to be priced at between NOK44 and NOK50 per share, which gives it an equity value of NOK6.87bn - NOK7.52bn($813m - $889.3m).

BW Pacific is expected to be listed on the Oslo Stock Exchange and commence trading on 13 November.

The IPO comprises the issuing of up to 48,693,182 new shares to raised a fixed amount of NOK2.14bn ($250m), and up to 9,738,636 existing common shares.

DNB Markets is granted an over-allotment option equivalent of up to 15% of the shares issued.