DOF to issue shares worth millions to survive ahead to 2022

Norway's DOF, which has been through a financial crisis and a subsequent restructuring, is looking to raise NOK 500 million in a new share issue. The fresh funds will pad the carrier ahead to 2022, reports Sysla.

Offshore carrier DOF announced on Monday that it plans to raise NOK 500 million (USD 61.2 million) in a new share issue.

The funds are needed at the carrier, which has been struggling with large debts in the years since the oil crisis erupted and hit offshore carriers. If the money can be raised as expected, it will give DOF some peace for the next four years, as the funds will be used, among other things, to refinance some of the carrier's bonds.

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