BWO in reverse stock split as loss grows

BW Offshore has logged a bigger loss in the third quarter as it continues its major restructuring effort with a reverse share split.

The FPSO specialist saw red ink of $11.2m from July to September, compared to $4.4m in the corresponding quarter of 2015.

Its operating revenue stood at $159.6m, a decline of 7% while EBITDA was down to $76.9m from $84.6m.

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