Constellation, an offshore oil and gas drilling services provider in Brazil, has started trading on Euronext Growth Oslo, under the ticker symbol ‘COSH’.
Constellation holds about one fifth of Brazil’s country’s offshore drilling market.
Constellation, with 1,800 employees and a 45-year track record, holds about one fifth of Brazil’s offshore drilling market, the company claims.
It is currently in the first quartile of Petrobras’ ranking of drilling contractors, operating all its rigs under one single hub in Brazil.
Constellation’s shares will trade under the ticker COSH, marking a significant step in the company’s growth trajectory and reinforcing its commitment to governance, transparency and sustainable growth.
“The listing on Euronext Growth Oslo is a significant milestone for Constellation and reflects the confidence that investors have in our business model, operational efficiency and cash generation capacity. With a robust backlog of approximately $2.1 billion, we ensure financial predictability and opportunities for sustainable growth,” said Rodrigo Ribeiro, CEO of Constellation.
The company’s capital allocation and financial strategy is focused on prioritizing debt reduction, dividend payment upon deleveraging, and maintaining flexibility to pursue value-adding growth opportunities.
Constellation has 1,519,918,308 outstanding shares and has not raised capital as part of the listing. The listing on Euronext Growth is for a portion of Constellation’s total shares that are registered in Euronext Securities Oslo (VPS) through Norwegian Depository Receipts (NDRs).