Fred. Olsen Windcarrier plans to launch an initial public offering (IPO) of new shares and apply for a listing on the Oslo Stock Exchange.

The IPO is expected to comprise a primary offering of new shares in Fred. Olsen Windcarrier, raising gross proceeds of approximately EUR150 million (USD169.7 million), which will be used to fully finance the equity portion for a newbuilding the company aims to order. 

The newbuild will be the company’s fourth installation vessel and supplement its existing fleet while increasing the company’s market share.

Aside from the newbuild, Fred. Olsen Windcarrier is implementing an investment programme for its three vessels. Upgrades to Bold Tern are ongoing with expected completion in the second quarter of 2022, and its two remaining vessels will be upgraded in 2024 and 2025.

Fred. Olsen Windcarrier is wholly owned by Fred. Olsen Ocean, which is a subsidiary of Bonheur. Fred. Olsen Windcarrier said that Bonheur is committed to remain a long-term majority shareholder and has pre-committed to subscribe for EUR25 million (USD28.3 million) in the IPO.