Aug 10, 2020
Oceana Offshore last Friday requested registration for an initial public offering (IPO). Part of the proceeds from the operation are earmarked to purchase vessels and update the fleet, in addition to acquiring companies to increase market share. .
According to the preliminary prospectus, the offering provides for primary (new shares, whose proceeds go to cash) and secondary (shares held by current partners) distribution of common shares, listed in the Novo Mercado segment of B3.
Oceana Offshore, in conjunction with its subsidiaries (Grupo CBO), operates in the maritime support sector for the offshore oil and natural gas exploration and production industry in highly complex operations.
The group claims that it currently has the second largest fleet of maritime support vessels in the country, which have adequate technological characteristics and are ready to operate with the exploration and production sector.
The group’s net revenue totaled 1.1 billion reais in 2019 and 669.3 million reais in the first half of 2020.
The IPO coordinators are BTG Pactual, Bradesco BBI, Citi, Santander Brasil, XP Investimentos, BB Investimentos and Banco ABC Brasil.
The CBO Group, Oceana’s controller, has as shareholders the investment companies Vinci Partners and Pátria, each with 40%, and the BNDES, BNDESPar, with 20%, according to the prospectus.