BW Energy IPO slated for first quarter of 2020

Norwegian FPSO operator BW Offshore is targeting 1Q 2020 for the IPO and listing of its 68.6% owned exploration and production subsidiary, BW Energy.

BW said on Wednesday that the IPO and listing were planned through a combination of a distribution of shares from BW Offshore and a contemplated equity raise of about $175 million.

New investors will be invited to subscribe for new shares at a valuation of $700-800 million for the current outstanding share capital of BW Energy.

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