BW Offshore Limited successfully completes new share issue
(Bermuda, March 26, 2007) BW Offshore Limited has successfully completed a new share issue as described in a stock exchange notice dated March 23, 2007, raising NOK 4.5 billion in gross proceeds.
BW Offshore Limited (BW Offshore) has successfully completed a new share issue of 172,943,889 shares at a price per share of NOK 26.02. The purpose of the share issue was to fund the acquisition of Prosafe SE shares, as described in a previous stock exchange notice.
Subscribers in the new share issue were a combination of international and Norwegian institutional investors. BW Offshore's largest shareholder, Bergesen Worldwide Limited, has been allocated 134,511,914 shares in the placing.
Allocations will be communicated today. Payment date is set to Thursday 29 March 2007. Subscribers will be delivered existing and unencumbered shares in BW Offshore that are already listed on Oslo Børs pursuant to a Stock Lending agreement entered into between the Managers and Bergesen Worldwide Limited.
For further information, please contact:
Svein Moxnes Harfjeld, CEO BW Offshore AS +47 41 40 48 86