John Fredriksen-backed Paratus Energy Services has raised $75m via a private placement in connection with its planned Euronext Growth listing later this week. The shares were offered at a fixed price of the NOK equivalent of $4.90 per share, corresponding to a pre-money equity value of the company of $755m.
The company, formerly Seadrill New Finance, owns five jackup drilling rigs via Fontis, previously known as SeaMex, a 50% stake in Seabras joint venture with Sapura, which has a fleet of six pipelay support vessels and has interests in the Oslo-listed oil services company Archer. The net proceeds will be used for general corporate purposes and to increase balance sheet flexibility, Paratus said. Paratus, which reported a firm backlog of about $1.5bn as of Q1 2024, is expected to have its first day of trading on Euronext Growth Oslo on Friday, June 28, after which it said it would move for an uplisting on the Oslo Stock Exchange. The company’s largest shareholder is Fredriksen’s Hemen Investments.
Source: splash247.com