Havyard extends IPO

Norway's Havyard Group is giving investors five more days to buy shares in its Oslo IPO.

The sale was due to expire on Thursday, but will be stretched to 24 June.

Per Saevik’s Havyard had hoped to close the offshore veteran’s fourth trip to the capital markets in April with both a primary offering and the sale of shares held by Havila Holdings.

The offshore shipbuilder returned later with a revised offering in which Havila Holdings is seeking to sell between 4.2 million and 6.25 million shares at NOK 36 each.

This values Havyard at NOK 811m and will see Havila collect NOK 151m to NOK 225m ($27.72m) for reducing its stake.

The stock was set to begin trading on 26 June but this is likely to be pushed back.