Seadrill will be delisted in New York after new huge deficit

Norwegian drilling company Seadrill will not maintain its listing in New York. The market and virus outbreak gets the blame following a first quarter in which the company lost USD 1.6 billion.

Norwegian-Cypriot shipping magnate John Fredriksen is behind Seadrill, which will be delisted in New York. | Photo: Ints Kalnins/Reuters/Ritzau Scanpix

John Fredriksen-controlled drilling company Seadrill will be delisted in New York, says the company in an update.

Seadrill notes that the company, due to the market situation, will be unable to comply with the requirements associated with maintaining a listing in New York. Seadrill will continue to be listed on the Oslo Stock Exchange.

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