EOC kicks off sale

Oslo-listed offshore group EOC has launched its secondary listing in Singapore with a share sale worth up to $203m.

IFR reported that the company, owned by Ezra Holdings of Singapore, is selling stock worth between SGD 214m and SGD 254m, citing banking sources.

The company plans to sell up to 210m shares, with each priced in a range between SGD 1.02 and SGD 1.21.

Ezra said last week that EOC had filed its listing prospectus.

It will become the first company with dual listings in Norway and Singapore to raise money from the process.

Earlier this month, Ezra investors okayed a merger between offshore support services division, EMAS Marine, and EOC.

Looking ahead, EOC group will be one the largest offshore support operators in Asia Pacific, managing offshore assets of over $1bn.