The Dubai-based player last week confirmed that it will pursue an initial public offering around July and chief executive David Mullen said “opportunistic” acquisitions could be undertaken once it is out of the way.
Shelf, set up in 2012 to buy 38 jack-ups off rig giant Transocean, is looking to spend about $250 million of the cash it plans to raise on paying down debt under its $350 million term loan.
The
