Offshore drilling contractor Vantage Drilling has listed its shares on Euronext Growth Oslo, a multilateral trading facility operated by Euronext.
The company’s shares on Euronext Growth Oslo have been listed since October 28, 2024, under the ticker code VDI.
Vantage Drilling noted that only shares that are held in and registered with Euronext Securities Oslo (VPS) will be listed and tradeable on Euronext Growth Oslo.
The listing on Euronext Growth follows a series of value accretive transactions, namely the one with TotalEnergies from February 2024, as part of which the companies signed memorandum of understanding to establish a joint venture (JV) that would acquire Vantage Drilling’s Tungsten Explorer drillship.
At the time, it was agreed that TotalEnergies will pay $199 million for a 75% interest in the JV owning the rig, with Vantage owning the remaining 25%.
The sale of the Tungsten Explorer to the TotalEnergies-Vantage joint venture is expected to be completed in the second or third quarter of 2025.
Also, Vantage Drilling entered the separate purchase and sale agreements in September 2024 to sell the Topaz Driller jack-up rig and all of the issued and outstanding equity of the entity that owns the Soehanah jack-up rig, respectively, to a subsidiary of ADES International Holding.
The value of transactions is $190 million and they are expected to close in the fourth quarter 2024, Vantage Drilling said.
“We are thrilled to be listing on the Euronext Growth, a significant milestone for our company. This listing reflects our commitment to deliver value to our shareholders through strategic actions, building on our track record of operational excellence.
“With this new chapter, we are poised to expand our global reach, strengthen our financial position, and continue to provide best-in-class services to our clients in the energy industry. We are excited about the opportunities ahead and remain focused on sustainable returns and long-term success”, said Ihab M. Toma, CEO and Board member of Vantage Drilling.