HOUSTON, TEXAS (Editors at Energy Analytics Institute, 28.Feb.2025) — Paratus Energy Services Ltd. launched an offer to buy back its own shares for an amount in NOK equivalent to $20mn.
Parts has engaged ABG Sundal Collier ASA to assist with the offer, the Bermuda-based company announced 28 Feb. 2025 in an official statement.
The offer will be conducted as a reverse bookbuilding process in which all Paratus shareholders are invited to offer shares at a price level defined by the respective selling shareholder. Paratus will determine the final purchase price per share at its sole discretion based on the sales orders received. The final purchase price will be identical for all selling shareholders.
The reverse bookbuilding period commences on 28 Feb. 2025, at 09:00 hours (CET) and is expected to close at 16:30 hours (CET) on 4 Mar. 2025.
As the offer is expected to be conducted prior to the ex-date for the $0.22 dividend, shareholders participating in the offer will not be entitled to receive the dividend declared on 28 Feb. 2025, on shares sold.
Paratus Energy is an investment holding company of a group of energy services companies. The Paratus Group is primarily comprised of its ownership of Fontis Energy and a 50/50 JV interest in Seagems. Fontis is an offshore drilling company with a fleet of five high-specification jack-up rigs working under contracts in Mexico. Seagems is a subsea services company, with a fleet of 6 multi-purpose pipe-laying support vessels under contracts in Brazil.
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By Editors at Energy Analytics Institute. © 2025 Energy Analytics Institute (EAI). All Rights Reserved.
