DOF Subsea has decided to wait for an improvement in stock market conditions before it initiates its planned IPO.
The company had announced that it hoped to start trading on the Oslo stock exchange before the end of the month.
But it has blamed volatile market sentiment towards oil and gas and the fall in the oil price for the decision to delay the offering.
The shareholders – DOF ASA with 51% and First Reserve Corporation with 49% – agreed that despite the decision they still believe the company’s position to be strong with new pipelines starting in 2017.
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