A Move to Simplicity – Havila Shipping ASA Consolidates Interests

As part of a proposed acquisition to acquire five modern PSVs, Havila Shipping ASA announced earlier this month the successful completion of a private placement to Norwegian professional investors, international investors and US 144A QIBs of 3.77 million shares at a price of NOK 52.50/share raising approximately NOK 198 million. Of the total number of shares 2.56 million are new or primary shares with the balance of 1.21 million shares sold by the company. Both the share price, set through a book building process, and equity raised were at the low end of expectations.

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