A Nice Problem

The allocation of shares of North Atlantic Drilling Ltd. was delayed due to significant over-subscription. With the book over 20 times covered, the prime allocation criteria was based upon existing Seadrill Limited shareholding. Based upon the allocation, the company will have approximately 1,200 shareholders. Finally, the company is trying to arrange for a shareholder structure that will qualify for an immediate stock exchange listing. While shipping has lost its luster, the offshore is burning bright.

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