The driller is offering up 8.75m shares in SeadrillPartners, which will be traded on the New York Stock Exchange.
Shares are being offered at between $20 and $22each, which could bring in an initial purse of $192.5m.
If underwriters mop up options available to themthat headline figure could reach $221.38m.
Seadrill, which first revealed the spin-off plansin July, will sell two semi-submersibles and a tender rig to the partnership,according to a filing with the SEC.
