Norwegian offshore company Dolphin near bankruptcy

Seismic offshore company Dolphin warns on Thursday that the company faces an increasing risk of bankruptcy after a failed attempt at securing a capital injection from its owners.

Norwegian offshore company Dolphin warns Thursday in a corporate statement that it faces an increasing risk of bankruptcy. The share dived around 50 percent after the exchange opened.

Dolphin, which operates a fleet of seven seismic vessels and is listed on the Oslo Stock Exchange, announced a few weeks ago that the company was negotiating with its owners concerning a debt restructuring, but it was clear on Thursday that this has not yet been possible to achieve.

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