A share sale by Offshore Heavy Transport (OHT) was fully booked, 24 hours ahead of time.
The Arne Blystad-led company was thus secured NOK 545m ($60m) to invest in the offshore wind farm installation vessel sector.
Company chairman Rune Magnus Lundetrae said he is happy with the outcome of the share issue.
“We had a very good response in the market and feel that it is a good size and quality on the subscribers,” he told Norwegian financial daily Finansavisen.
Prior to the shares sale, Blystad owned two-thirds of, while one-third was held by China’s Lotus Marine. Neither company have bought additional shares, and Blystad’s shareholding has been reduced to just over 50%.
This capital will be used to finance the first of two jack up installation vessels for wind farms to be built in China with a price tag of $230m.
The first vessel is due to be delivered in 2023, while delivery time for the second remains flexible.
