Fred. Olsen Windcarrier ASA (Fred. Olsen Windcarrier or FOWIC) has announced its intention to launch an initial public offering of new shares and apply for a listing on the Oslo Stock Exchange (the IPO).
Fred. Olsen Windcarrier is an offshore wind turbine installation company with ownership in three purpose-built transportation and installation (“T&I”) jack-up vessels, headquartered in Oslo, Norway. FOWIC installs offshore wind turbines and provides operations and maintenance services on already installed wind turbines. FOWIC is wholly owned by Fred. Olsen Ocean Ltd., which is a subsidiary of Bonheur ASA (Bonheur).
The IPO is expected to comprise a primary offering of new shares in FOWIC raising gross proceeds of approximately EUR 150 million, which will be used to fully finance the equity portion for the newbuilding the company aims to order, and for general corporate purposes.
Bonheur is committed to remain a long-term majority shareholder and has pre-committed to subscribe for EUR 25 million in the IPO. Subject to receiving the relevant approvals from the Oslo Stock Exchange and the Norwegian Financial Supervisory Authority, as well as prevailing equity capital market conditions, FOWIC is expecting to have its first day of trading on the Oslo Stock Exchange in Q1 2022. FOWIC will make further announcements relating to the IPO in due course.
