Dolphin Group, the Oslo-listed geophysical services provider to the oil and gas industries, has completed a private placement of shares.
Investors purchased 70 million new shares at a price of NOK2.05 (USD0.25) per share. “The consummation of the Private Placement is conditional upon the Extraordinary General Meeting of the Company to be held on or around 13 May 2015 approving the issue of shares under the Private Placement,” the company said in a statement.
“The new shares issued in the Private Placement will not be listed or tradable on Oslo Børs until a listing prospectus for such shares has been approved by the Norwegian Financial Supervisory Authority, expected to be during May 2015,” Dolphin continued.
Dolphin operates a fleet of eight seismic survey ships. Earlier this month, it joined an agreement to carry out a survey on a 4,500 km2 area in the Barents Sea on a multi-client basis.