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HomeMaritime NewsRegionsAmericasNorth Atlantic Drilling aims to raise upto $135m from IPO

North Atlantic Drilling aims to raise upto $135m from IPO

North Atlantic Drilling aims to raise upto $135m from IPO
Seadrill spin-off North Atlantic Drilling (NADL) is aiming to raise up $135.1m from an initial public offering on the New York Stock Exchange (NYSE).

NADL is selling 13.5m common shares through the IPO at an estimated price range $8.50 - $10 per share, which would raise $135.1m at the top end of the range. Underwriters will be granted a 30-day option on 2.02m shares.

“The net proceeds of this public offering are expected to be used for general corporate purposes and working capital,” the company said.

Morgan Stanley & is acting as the lead book-running manager for the offering. Barclays Capital, Goldman Sachs & Co and RS Platou Markets are acting as joint book-running managers for the offering.

 

 

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