DOF has issued a swathe of new shares to bondholders who elected to convert their investments into equity at 50% of the debt's par value.
The Oslo-listed offshore vessel owner said bondholders opted to trade in bonds holding NOK 83.8m ($9.75m) in par value for 83.8 million new shares at a conversion price of NOK 1 per share.
DOF says the conversion increases the company's share capital by NOK 41.9m
