Seadrill to Delist from Oslo Stock Exchange in September
Seadrill, an offshore rig owner, has made the decision to delist its shares from trading on the Oslo Stock Exchange. The company, led by Simon Johnson, has received approvals from its shareholders and the exchange, with the delisting scheduled for September 10 of this year.
Seadrill had returned to the public markets in Oslo and New York after emerging from bankruptcy protection in 2022. However, the latest move will see Seadrill maintaining a single listing on the New York Stock Exchange. This decision is in line with the company’s efforts to simplify its business operations.
In a statement, Seadrill’s president and chief executive, Johnson, mentioned, “While we believe a single listing on the NYSE is most appropriate for Seadrill’s strategy, development, and size, we appreciate the long-standing support of the Norwegian investment community and would like to encourage its continued participation with our company.”
Additionally, the company has recently agreed to sell its Qatari jackup business along with three rigs for $338m. After the deal closes, Seadrill will possess 10 drillships and manage two as part of a joint venture with Sonangol, four semisubs, and a pair of jackups.
This decision marks a significant shift for Seadrill and will have implications for both the company and the investment community. As Seadrill prepares to delist from the Oslo Stock Exchange, investors and industry experts will be closely watching the developments in the coming months.
Keywords: Seadrill, delist, Oslo Stock Exchange, Simon Johnson, New York Stock Exchange, offshore rig, bankruptcy protection
Source: Splash247