Paratus Energy Pants dominated by Frederiksen in Oslo Børs – E24

Paratus Energy Pants dominated by Frederiksen in Oslo Børs – E24

The drilling company's shares rose sharply on its first day of trading.


The status is updated continuously throughout the trading day.

The main index on the Oslo Stock Exchange was up 0.52 percent at 09.30. It ended Thursday up 0.47 percent.

Here is a picture of some of the most traded stocks:

  • Paratus Energy Services shares rose 13.43 percent.
  • Equinor rose 1.13 percent
  • Moi shares fell 1.15 percent.
  • Lerøy shares fell 1.62 percent
  • Salmar shares fell 1.16 percent

Oil prices are up 0.47 percent since midnight. A barrel of North Sea crude (burnt spot) is trading at $85.79.

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Frederiksen's first trading day

Paratus Energy has its first trading day on the Oslo Börse on Friday. John Fredriksen Hemen Holding is the major owner with a 29 percent stake. The fund is followed by Lodbrok with an 18 percent stake.

The company raised $75 million. Earlier this week At a price equivalent to NOK 51.66 per share. The fundraising implies a market value of $860 million.

The stock has risen by 14.43 percent since inception compared to the issue price.

The company consists of wholly-owned driller Fontis with five drilling rigs, a 50% ownership in Seabras, which owns six pipelaying vessels, and a 24% stake in listed well services company Archer.

Seabras and Seamex, now called Fontis Energy, were previously owned by Seadrill, but were separated when Seadrill went bankrupt a few years ago, and today are united under Paratus Energy.

Ventura Offshore raised the funds

Ventura Offshore Holding Ltd, which went public on June 5 with support from, among others, Kristen Sves, has raised NOK 535 million in a private placement.

The company will issue 17,833,333 shares at NOK 30 per share in the issue.

The company announced earlier on Thursday the purchase of the Katarina semi-submersible platform for a total price of US$105 million (NOK 1.12 billion), including payments related to future earnings (earning-out mechanism).

Of the purchase price, $100 million will be paid in cash and the rest in the form of shares in the company. The seller will also receive 17.5 percent of the free cash flow provided by Katarina for five years.

Ventura Offshore is also receiving $7 million for filling the platform from Eni, which is leasing it.

In addition to the issuance, the company will finance the purchase of existing bonds worth US$55 million.

The company also obtained a $30 million loan facility to ensure the liquidity needed to operate the company's platforms.

The stock rose 3.33 percent.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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