Idan Ofer and John Fredriksen invest in Edda Wind IPO

Edda Wind, founded jointly by Wilhelmsen New Energy and Østensjø Wind is aiming to raise NOK875m through an IPO on the Oslo Stock Exchange.

Three cornerstone investors – Fredriksen, Ofer and Nordea – have undertaken to invest NOK465m in total in the offering.

Idan Ofer is investing NOK200m via Xclat, and subsidiary of Quantum Pacific Shipping, and while John Fredriksen is investing NOK200m via Geveran Trading. The remaining NOK65m is being invested by Nordea Investment Management.

Both Geveran and Xclat will join the board of Edda Wind from the first day of trading on the Oslo stock Exchange.

Håvard Framnes, Chair, of Edda Wind commented: Geveran and Xclat will further broaden the international network and strengthen the shipping competence and experience of the company.”

Edda Wind is a pure play offshore wind services company and operates two purpose-built offshore wind SOVs and has six dedicated offshore wind vessels under construction. The company says it is the process of evaluating further newbuilding opportunities.

Kenneth Walland, CEO of Edda Wind said: “The offshore wind market is fast-moving, capital intensive and requires significant investments. With three new cornerstone investors and an IPO securing a solid foundation for future growth, Edda Wind will get an even stronger backing and necessary support to capitalise on the huge market potential we see ahead.”