The Seadrill spin-off said it plans offer 8m common units. Morgan Stanley and Barclays will act as book running managers.

The shares in the US-listed outfit would be worth $256m at Tuesday’s closing price on the New York Stock Exchange of $32 per share.

It intends to use the proceeds for general company purposes including acquisitions, repaying debt and working capital.

In March the company raised net proceeds of $366m from the sale of 11.9m