Nordcap’s 15% extra

Oslo IPO hopeful Nordcap Offshore is offering an extra 15% of its share sale to underwriters.

The over-allotment option for Arctic Securities, RS Platou Markets and ABN AMRO Bank could be worth $30m.

Nordcap, led by Willem Dekker, is looking to raise NOK 1.211bn ($202m) by way of a listing on the Oslo Axess exchange

In a regulatory filing the company, which took shape just last month after opening an office in Liechtenstein, said it plans to sell over 48 million shares at a cost of NOK 25 each.

The IPO is expected to start on Thursday and close on 17 June.

The cash will go on funding a fleet of 10 new supply ships.

Of these, five are due for delivery this year and the remainder are scheduled to hit the water in 2015 and 2016.

Three of these units are on order at ASL Shipyard, three are being built by Singaporean compatriot DDW PaxOcean and the remainder are under construction at Vard Vung Tau in Vietnam.