Andreas Sohmen-Pao is looking to take another of his companies off Oslo markets, this time floating wind outfit BW Ideol.

In its third-quarter earnings release, BW Ideol’s leading shareholder, BW Offshore, expressed doubts it could continue raising equity on the Euronext Growth Oslo exchange without hurting existing shareholders.

“The offer and plan to take the company private reflects that the initiating shareholders consider it unlikely that BW Ideol… will be able to raise new equity on terms that are not highly dilutive for non-participating shareholders in the current equity capital market environment,” BW Offshore said.