CGG Veritas sells $23m Spectrum stake

19 Sep 2012

CGG Veritas sold around 10% of Spectrum, a seismic imaging company, after close of markets on Wednesday.

Bookrunner Carnegie sold the 4.37m shares at Nkr30.75 each, a 2.4% discount to Wednesday’s close.

The company, which was Spectrum’s largest shareholder, sold 400,000 more shares than expected, after high demand.

The deal reduced CGG Veritas’ stake in the company by around half.

CGG Veritas has signed a 90 day lockup ...

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