Borr Drilling's equity emission significantly oversubscribed

Strained drilling company Borr Drilling, established by investor Tor Olav Trøim in 2016, saw a significant oversubscription at its recent equity offering.

Photo: PR / Marine Money/Marine Money

Norwegian drilling company Borr Drilling, which has had a tough year due to Covid-19 and depreciating oil prices, has spent the past few months divesting drilling rigs and bringing in new capital.

And now, a small equity offering of USD 10 million for a price of USD 0.53 per share has been significantly oversubscribed, states a notice to the stock exchange in Oslo.

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