On 11 March 2019, Awilco Drilling PLC announced the successful placement of 5,550,000 new shares in the Company at a subscription price of NOK 31.80 per share, raising gross proceeds of NOK 176m (~USD 20m). The Company will also conduct a subsequent offering of up to NOK 25m (~USD 3m) by offering up to 800,000 new shares at the same subscription price. Net proceeds from the transaction will be used to partly finance the equity requirement for the building of a second semisubmersible drilling rig for harsh environment use, to be built by the premium yard KeppelFELS in Singapore with planned delivery in March 2022.
ABG Sundal Collier acted as Joint Lead Manager and Joint Bookrunner in the transaction.
About Awilco Drilling
Awilco Drilling Limited was incorporated in December 2009 in connection with the acquisition of the semi-submersible drilling rigs, WilPhoenix and WilHunter. The company is registered in England & Wales with its operations based in Aberdeen, Scotland. The Company re-registered to a public company on 14 April 2011, under the name Awilco Drilling PLC. Awilco Drilling PLC is listed on the Oslo Stock Exchange main listing under the ticker code AWDR. The Awilhelmsen Group is the largest shareholder controlling 36.5% of the shares.