PGS Calls off Debt Refinancing, Shares Fall
analyst said there were worries that the company would now have to refinance its debts by selling new shares instead."The reason for the sell-off is increased fears of a dilutive equity issue in relation to the refinancing, that is why the market reacts the way it does in our view," said Fearnley Securities analyst Haakon Omsted.Based on the seismic market's outlook, however, the company should be able to raise funds without a forced equity issue, he said."Clearly this depends on PGS delivering as expected and reopening of capital markets," Omsted added.PGS said it was not currently
Ezra to Consolidate EMAS Marine into EOC
based on the issue price of NOK 8.18 per new share. The consideration was arrived at on a willing-buyer, willing-seller basis and takes into account, among others, the track record and market position of EMAS Marine and business rationale for the enlarged entity. In EOC’s announcement, Fearnley Securities AS, the independent financial adviser to the board of directors of EOC, has rendered a preliminary conditional opinion that the terms of the proposed consolidation are fair to the EOC shareholders. DBS Bank Ltd’s Strategic Advisory unit has been appointed as Ezra’s financial
Havyard Group – Launch Of IPO & Prospectus Publication
shares, a prospectus has been prepared and approved by the Norwegian Financial Surveillance Authority (Finanstilsynet) on 10 June 2014. Subject to regulatory restrictions in certain jurisdictions, the prospectus is available at the web pages of the Company (www.havyard.com) and from the managers Fearnley Securities (www.fearnleysecurities.no) and Arctic Securities (www.arcticsec.no). As further detailed in the prospectus, the Offering will consist of two tranches: (i) an institutional offering, in which Offer Shares are being offered to investors subject to a lower limit per application of NOK 1,000
February 2024
