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    Nordcap Offshore plans listing in Oslo

    Company News // June 4, 2014

    The board of Nordcap Offshore Inc has resolved to apply for a listing of the company's common shares on Oslo Axess.

    In connection with the listing, the company intends to conduct an equity offering of new common shares to raise gross proceeds of approximately NKr 1,211,091,000, equivalent to approximately US$202 million. The offer price is NKr 25 per share.

    The company intends to issue up to 48,443,640 shares in the offering. Arctic Securities ASA and RS Platou Markets AS have been granted an option to over-allot a number of shares up to 15 per cent of the number of offer shares allocated in the offering.

    Nordcap Offshore intends to use the net proceeds from the offering in combination with the proceeds from a senior secured amortizing credit facility mainly to finance the acquisition of a fleet of 10 PSVs and for general corporate purposes.

    The vessels are intended to be operated in Africa, Brazil and the North Sea. The company’s management team has a long-standing background in the shipping industry in general and in the offshore market in particular. The company sees an increasing demand for PSVs in the mid to large sized segment. 


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