“The proceeds from the private placement will be used to finance the company's newbuild program for accommodation vessels at Keppel FELS Shipyard, grow capex and for general corporate purposes,” Floatel said in a statement.
The company believes that the private placement will also strengthen its standing as a provider of high-specification, modern accommodation vessels to the offshore oil and gas industry.
The private place will be done through the issuance of new shares in Oslo directed towards Norwegian and international investors.
Fearnleys Securities and Pareto Securities have been retained as the joint lead managers and book-runners while ABN Amro and SEB Enskilda have been appointed as co-managers.
Presently, Floatel owns two semi-submersibles built at Singapore's Keppel FELS Shipyard.
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