BW Energy IPO Awaits 'Right Window'

(Photo: BW Offshore)
(Photo: BW Offshore)

Norway's BW Offshore will wait for markets to stabilize before launching a planned initial public offering of its oil production arm, BW Energy, an executive said on Thursday.

"We are generally ready to go to the market for a listing... however, looking at the market right now, with everything going on in the macro environment we see that the market isn't really where it needs to be," Staale Andreassen, BW Offshore's chief financial officer, told an investor conference.

"We are not in a need to go for an IPO for the capital, so we want to take our time and wait for the right window before an eventual IPO and capital raise is launched," he added.

The company has previously said it planned to list BW Energy on the Oslo Stock Exchange in 2019.


(Reporting by Victoria Klesty, writing by Nerijus Adomaitis, editing by Terje Solsvik)

Current News

Floatel Secures Longer Stay for Accommodation Rig off Australia

Floatel Secures Longer Stay fo

Industry Consortium to Asses Floating Nuclear Plants for Mediterranean Sea

Industry Consortium to Asses F

Longitude Lines Up More Work at Shell’s West Delta Deep Concession off Egypt

Longitude Lines Up More Work a

MeyGen Tidal Energy Tech Sets New Operational Record

MeyGen Tidal Energy Tech Sets

Subscribe for OE Digital E‑News

 
Offshore Engineer Magazine