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Aker Offering Successfully Completed; Rigs Ordered

Priced at the tight end, the initial public offering of shares in Aker Drilling ASA was successful completed this week with the book oversubscribed, reflecting strong investor interest. The company issued approximately 189.5 million new shares at a price of NOK 19/share raising total proceeds of NOK 3.6 billion, while creating a company with a market capitalization of NOK 5.4 billion and 1,800 shareholders. Approximately 97.4% of the shares were allocated to institutions with the balance to retail investors and employees. Aker Drilling’s parent, Aker Capital AS, will retain an approximate 40% interest in the company.

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Written by: | Categories: Freshly Minted, The Week in Review | February 24th, 2011 |

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