The Board of Oslo Børs approves Borr Drilling for listing

Gas, Oil Industry, Oil Platforms and Rigs, Stock Markets — By on August 28, 2017 at 3:02 PM
28/08/2017 – At its meeting on 28 August 2017, the Board of Directors of Oslo Børs resolved to admit the shares in Borr Drilling Ltd. to listing on Oslo Børs.

The Board resolved to grant an exemption from the listing requirements regarding three years’ history and activity, cf. the Listing Rules sections 2.3.2 and 2.3.3, respectively.

The exemption is granted due to the fact that any valuation of the company can be subject to parameters being available from various sources, and hence, that the market participants can be expected to have adequate information to make a reasoned assessment of the company.

Based on an overall assessment, the Board decided that the exemption regarding three years’ history and activity is deemed to be in the interest of the general public and investors.

When making its assessment the Board took into consideration the company’s significant market value and its considerable free float, and that the company’s main activity has more than three years history.

The Board stipulated that the company prior to the first day of listing must satisfy the other listing requirements on Oslo Børs.  The Board authorised the Chief Executive Officer of Oslo Børs to determine the date of the first day of listing, which is to be no later than 12 October 2017.

About Borr Drilling:
Borr Drilling Limited is an international drilling contractor to the offshore oil and gas industry. Incorporated in Bermuda in 2016, the company’s services are focused on the shallow water segment. The company is the owner of a fleet of 12 jack-up drilling rigs, further, the Company has five jack-up drilling rigs on order with deliveries scheduled from 2018 to 2020.

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