Borr Drilling gets green-light on Norwegian IPO

Recently launched Norwegian rig company Borr Drilling has been granted permission for a listing on the Oslo Stock Exchange, even though the company has only existed for one year. Normally, a company must be three years old before it can hit the stock exchange.

Photo: Colourbox

The Maersk Group will get yet another listed company to measure the worth of subsidiary Maersk Drilling up against. Recently-launched Borr Drilling has been granted an exemption to be listed on the Oslo Stock Exchange despite being only a year old.

Normally, companies must have operated their main activities for three years to be listed in Norway, but as Borr has acquired external activities – and is estimated to become a company with high market value and many free-trade shares – it has been given the green light.

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