Shelf Drilling - Initial Public Offering - USD 259 million

Arctic acted as a manager on the Initial Public Offering of Shelf Drilling on the Oslo Stock Exchange. Shelf Drilling rasied $225 million of gross proceeds through the sale of 28,125,000 shares at $8 per share, in addition to a 15% over-allotment of 4,218,750 of secondary shares. Shelf Drilling aims to use the net proceeds to reduce debt and fund growth through the acquisition of an additional rig. The IPO was priced and allocated on 22 June 2018, while listing and trading commenced on 25 June 2018.

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