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The fourth transfer on Euronext Oslo Børs this year
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Market capitalisation of approximately NOK 8.6 billion
Euronext Oslo Børs congratulates Paratus Energy (ticker: PLSV) on its transfer from Euronext Growth Oslo to Euronext Oslo Børs. The company was listed in June 2024, and it is the fourth transfer this year between the Oslo markets.
Paratus Energy, previously known as Seadrill New Finance, serves as a holding company for a diverse group of energy service companies. The company fully owns Fontis, which operates five jack-up drilling rigs, and holds a 50% stake in the Seabras joint venture with Sapura, which manages a fleet of six multipurpose pipelay support vessels. Additionally, Paratus Energy has a 24% interest in the Oslo-listed oil services company, Archer.
At opening, the share price was NOK 50.75 per share, based on the closing price on Euronext Growth Oslo on 12 November 2024. This corresponds to an estimated market capitalisation of NOK 8.6 billion.
Robert Jensen, Chief Executive Officer of Paratus, said: “Today's transfer to the main market Euronext Oslo Børs is a pivotal moment for Paratus and a testament to the hard work and dedication of our entire team. Our assets have a long-term track record of generating significant cash flows, and we expect to maintain that trajectory with our recent contract awards. The listing will further strengthen our strong financial foundation with enhanced access to capital markets. We remain committed to operational excellence and pursuing opportunities that will drive long-term growth and shareholder returns."
Mei Mei Chow, Chair of the Board of Paratus, added: "Our public listing represents more than just a financial achievement; it establishes Paratus as a robust platform for continued growth and success. I want to express my gratitude to our dedicated management team and employees, loyal customers, and supportive investors who have played crucial roles in bringing us to this significant moment. I'm immensely proud of what we’ve achieved since Paratus’ emergence as a newly restructured company and am very excited about the opportunities that lie ahead."
Caption: Robert Jensen, CEO of Paratus Energy, and Mei Mei Chow, Chair of the Board, rang the bell together earlier this year when the company listed on Euronext Growth Oslo. Today the company has its first day of trading on the main market Euronext Oslo Børs. (Photo: Guro Sommer | NTB)
About Paratus Energy
Paratus Energy Services Ltd. (“Paratus”) is a holding company of a group of leading energy services companies. Paratus is comprised of its 50% JV interest in Seabras, 100% ownership of Fontis, and a 24% equity ownership stake in Archer. Seabras is a leading subsea services company, with a fleet of six multipurpose pipelaying support vessels (PLSV) under contracts in Brazil. Fontis is an offshore drilling company with a fleet of five high-spec jack-up rigs under contracts in Mexico.
