Songa Offshore's final cap hike closes three-pronged deal

By Andrew Griffin
05 Feb 2014

Songa Offshore, an Oslo-listed drilling company, launched a capital raise on Wednesday that will bring an end to the firm's $425m restructuring.

It will offer 61m new shares to existing investors, at Nkr2.50 each, equal with the price in the earlier placement. That will raise Nkr153m ($24.30m).

Investors will be able to subscribe using non-tradeable subscription rights between February 10 and February 24.

The company raised $250m through the sale of ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial