(WO) — Vantage Drilling International Ltd. today announced the first day of trading its shares on Euronext Growth Oslo under the ticker code “VDI.”
The listing on Euronext Growth follows a series of value accretive transactions, including the previously announced MoU with TotalEnergies for the sale of the Tungsten Explorer into a joint venture, and the separate purchase and sale agreements 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 Ltd.
“We are thrilled to be listing on the Euronext Growth, a significant milestone for our company,” said Ihab M. Toma, CEO of Vantage Drilling. “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.”
“As Chairman of the Board, I am proud to support Vantage Drilling’s listing on Euronext Growth, marking a significant achievement in our strategic journey,” said Thomas Bates Jr., Chairman of the Board of Vantage Drilling. “This milestone not only underscores our trademark dedication to operational excellence but also our focus on delivering sustainable value to our shareholders. We believe this listing positions the company to broaden its global presence, enhance its financial strength and continue providing top-tier services to clients in the energy sector. The Board is confident in the company’s direction and remains committed to fostering long-term growth and success.”
Following closing of the transactions, Vantage Drilling will have increased financial flexibility and will be well positioned to continue pursuing managed services opportunities and other strategic transactions that maximize shareholder returns.
About Vantage Drilling
Vantage Drilling International Ltd. is an offshore drilling contractor, with a current owned fleet of two ultra-deepwater drillships and two premium jack-up drilling rigs. Vantage Drilling’s primary business is to contract drilling units, related equipment and work crews primarily on a dayrate basis to drill oil and natural gas wells globally for major, national and independent oil and gas companies. Vantage Drilling also markets, operates and provides management services in respect of drilling units owned by others.
This article was originally posted at www.worldoil.com
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