BW Offshore plans to list its subsidiary BW Energy and is finally ready to set things in motion. The initial public offering on the Oslo Stock Exchange will occur during the first quarter of the year, and in this connection, BW Offshore will raise about USD 175 million as well as issue shares.
BW currently owns 68.6 percent of the company. BW Energy covers stakes in three oil and gas fields in Gabon, Namibia and Brazil. The company's valuation is between USD 700 and 800 million based on the share price offered to new investors in the IPO.
Get full access for you and your coworkers.Start a free company trial today
Already a member? Log in.