Oslo-listed OSV owner SD Standard Drilling has banked NOK 100m ($12.74m) from a sale of shares.

The platform supply vessel (PSV) specialist said the cash would help it grow the business further.

It placed 66.66m shares at NOK 1.50 each, against a trading price of NOK 1.57 on Friday.

Saga Tankers, including Strata Marine & Offshore, was allocated 2.86m shares.