North Energy to take in NOK 200 million via private placement of stock

Shares are sold through bookbuilding process by DNB, Pareto Securities

By Devika Patel

Knoxville, Tenn., Feb. 9 - North Energy ASA said it has retained DNB Markets and Pareto Securities AS as joint bookrunners for a private placement of shares to raise NOK 150 million to NOK 200 million. The price will be set at the market close on Feb. 9 based on an accelerated bookbuilding process.

The bookbuilding period opens Feb. 9 and closes on Feb. 10.

Chairman of the board Johan Petter Barlindhaug will invest NOK 10 million.

Settlement is expected March 7.

Proceeds will strengthen the company's balance sheet and finance further growth.

Based in Alta, Norway, North Energy is an oil and gas company.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.