Norway's SD Standard Drilling has completed a sold-out stock offering to fund the purchase of two platform supply vessels (PSVs).
The Oystein Spetalen-backed company said it will issue 145.43m and 7.24m new shares in two tranches, raising NOK 190.5m ($23.29m) and NOK 9.5m respectively.
The price per share was NOK 1.31.
The issue was fully guaranteed by six significant shareholders: Saga Tankers, QVT Financial, Apollo Asset Management, HRF Marine, Holberg Fondene and Gunnar Hvammen.
