The Per Saevik-controlled shipbuilder was priced at NOK 32.20 each at the time of writing on Tuesday afternoon, below its IPO level of NOK 33.50 ($5.43) apiece.

A listing of Havyard marks the fourth time offshore legend Saevik has taken a company public, with the IPO completed four months after the idea was announced.

Saevik said in a statement: “Havyard has a significant potential for growth, but the further development of the company requires more than we as a family company have the possibility to contribute.”

Saevik’s