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    Eidesvik raising funds for expansion

    News // April 15, 2005
    Eidesvik strengthen its position through an invitation for private placement.

    Eidesvik Offshore is to embark on a private placement in the region of NKr 400-450 million. The private placement will be followed by an IPO of the company at the Oslo stock exchange by the end of second quarter 2005.

    The proceeds will be used to invest in newbuildings, secondhand vessels, other strategic investments and to strengthen working capital.

    Eidesvik Offshore ASA is currently owned 100 per cent by Eidesvik Invest AS, a company controlled by the Eidesvik family. After the two offerings the Eidesvik family's ownership of the company will be reduced to 60-65 per cent.

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