Cypriot floatel owner Prosafe has completed a secondary offering of shares as part of its refinancing.
The Oslo-listed company said it had sold out the 504m-share issue at NOK 0.25 each, giving it proceeds of NOK 126m ($15.27m).
The stock was trading at NOK 0.28 on Tuesday.
It had already raised up to $150m in a primary sale, with its two largest shareholders, North Sea Strategic Investments and M&G, buying $85m of the stock.
Prosafe also planned to boost liquidity by $478m by reducing interest on bank loans, as well as cutting debt by $395m through converting $290m of bonds into equity at 30% of their face value.
