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    DOF Susbea reviewing opportunity for listing in Oslo

    Company News // May 12, 2017

    DOF Subsea AS and its shareholders, DOF ASA owning 51 per cent, and a fund managed by First Reserve owning 49 per cent, have decided to review the opportunity for the company to apply for a listing on Oslo Stock Exchange.
    The company was listed on the Oslo Stock Exchange from November 2005 until December 2008, when DOF ASA and First Reserve took the company private.
    As part of a potential listing, the company and its shareholders plan to evaluate a primary issuance of new shares in an offering as well as a partial sale of existing shares by First Reserve.

    DOF ASA intends to maintain its current ownership level, through participating with up to NKr 250 million in a cash issue, and contribution-in-kind of two subsea vessels owned by DOF ASA as well options to acquire two additional vessels.

    First Reserve expects to remain a significant shareholder after the primary issuance and partial sale of shares.
    Proceeds from the primary issuance will provide flexibility for the company to decisively pursue further organic and strategic growth opportunities and enhance the company's competitive position ahead of an anticipated market recovery.

    The company has engaged ABG Sundal Collier and Pareto Securities as financial advisers.

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