Oystein Spetalen’s SD Standard Drilling is funding the purchase of two large platform supply vessels (PSVs) with a stock issue.
The Oslo-listed company has retained Clarksons Platou Securities as sole manager and bookrunner for the sale of up to 152.67m new shares worth NOK 200m ($24.46m).
The proceeds will pay the $22.2m cost of acquiring the 4,100-dwt ER Athina (built 2009) and 4,800-dwt ER Georgina (built 2010) from Hamburg-based ER Offshore, which it announced earlier this month.
