Reach Subsea is set to rake in a shade over $12m from a private placement that saw Norway's North Energy become a more significant shareholder in the company.
Oslo-listed Reach is to collect NOK 85m ($10m) from the initial placement and a further NOK 15 from a subsequent offering, in an effort led by Arctic Securities and Clarksons Platou Securities.
“Net proceeds from the private placement will be used for acquisition of ROV spreads and general corporate purposes,” a statement said.
As
