Eidesvik Offshore is backing off a planned equity raise.
The Norwegian offshore vessel owner said on Thursday that it was declining to proceed with a plan — announced in March following the private placement of 10.8m shares — to sell as many as 2m new shares to the general public.
“Since [the] announcement of the completion of the private placement, the company’s shares have traded on Oslo Bors, with sufficient trading volume, at prices close to or below the subscription price in the private placement of NOK 12 or $1.11,”
