Nordcap extends offering

Oslo Axess listing hopeful Nordcap Offshore has delayed the closing of its IPO book.

Willem Dekker-led Nordcap had been set to round out the offering today but it has now extended the period until tomorrow morning.

Nordcap, which had been hoping to collect over $200m from the float, says its shares are set to start trading on around 25 June.

Attempts to reach Dekker or representatives of Nordcap parent ER Capital Holding for comment on the holdup were not immediately successful at the time of writing today.

The owner is working with Arctic Securities, RS Platou Markets and ABN AMRO on the listing effort.

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.

It is one of three offshore IPOs in the past few months.

Nordic American Offshore has floated in the US while Per Saevik is seeking a listing for Havyard Group in Oslo.