BW Energy gets shrunken IPO done in teeth of oil fears

By Jon Hay
18 Feb 2020

BW Energy, the oil exploration and production company, has priced its Oslo IPO after lowering its valuation target and shrinking the deal, having encountered resistance from investors as the coronavirus outbreak in China knocked 20% off the oil price.

The Nkr1.144bn ($124m) deal is all new capital. However, it is also effectively a spin-off of its E&P division by BW Offshore, the Norwegian oil production and storage vessel operator listed in Oslo.

The original price range was Nkr34.20 to Nkr36.60 a share. BW Energy aimed to issue ...

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