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Thursday, 08 January, 2009, 22:40 GMT | more >>

MIS is in the money



By Upstream staff 

Offshore services player Maritime Industrial Services (MIS) has raked in Nkr506 million ($76 million) from a share issue and sale tied in with its listing on the Norwegian over the counter market.

MIS is currently trading under the symbol “MISC”. The deal was managed by Pareto Securities who are also acting as the primary broker in Norway for share trading.

The deal consisted of a share issue of Nkr380 million and sale of Nkr126 million worth of shares from existing shareholders. The placement and sale were done in one deal to private and institutional investors from Norway, US, UK, the United Arab Emirates and Saudi Arabia.

The cash raised will be used to pay for MIS’ expansion into newbuild jack-up rigs. The company is currently building two Super M2 300ft jack ups for Mosvold Jackup and expects to land orders to deliver five more jack-ups in 2010.

MIS plans to list on the Oslo Stock Exchange next year.


Thursday, 16 November, 2006, 13:59 GMT  | last updated: Wednesday, 25 April, 2007, 09:40 GMT

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