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Fredriksen invests millions in Northern Drilling

Shipping magnate John Fredriksen has subscribed to about a third of shares in a private placement that rig company Northern Drilling has just issued. The private placement infuses the company with over NOK 900 million.

Photo: Ints Kalnins/Reuters/Ritzau Scanpix

Rig company Northern Drilling raises NOK 918 million (USD 99.7 million) from a number of investors.

This happens via a private placement in Northern Drilling subsidiary Northern Rig Holding, where 18.7 million new shares have been issued to a range of investors, the company writes in a statement.

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