Paratus Energy Services Ltd. lists on Euronext Growth Oslo

• Market capitalisation of approximately NOK 10 billion
• The sixth listing of the year on Euronext Oslo Børs’ markets

• 23^rd listing on Euronext in 2024 and the eighth international listing

   

Oslo – 28 June 2024 – Euronext Oslo Børs proudly congratulates Paratus Energy Services, hereafter Paratus, (ticker: PLSV) on its successful listing on Euronext Growth Oslo. This marks the sixth listing in Oslo this year and the 23rd across Euronext. Notably, it is the eighth international listing on Euronext in 2024.

Paratus, previously known as Seadrill New Finance, serves as a holding company for a diverse group of energy service companies. The company fully owns Fontis, which operates five jack-up drilling rigs, and holds a 50% stake in the Seabras joint venture with Sapura, which manages a fleet of six multipurpose pipelay support vessels. Additionally, Paratus has a 24% interest in the Oslo-listed oil services company Archer.

Ahead of the listing, Paratus successfully raised approximately NOK 804 million (USD 75 million) through a private placement. The shares were priced at NOK 60 per share at market opening, amounting to a market capitalisation of NOK 10,2 billion.

Robert Jensen, Chief Executive Officer of Paratus, said: "Today's listing on Euronext Growth Oslo is a pivotal moment for Paratus and a testament to the hard work and dedication of our entire team. Our assets have a long-term track record of generating significant cash flows, and we expect to maintain that trajectory with our recent contract awards. The listing will further strengthen our strong financial foundation with enhanced access to capital markets. We remain committed to operational excellence and pursuing opportunities that will drive long-term growth and shareholder returns."

Mei Mei Chow, Chair of the Board of Paratus, added: "Our public listing represents more than just a financial achievement; it establishes Paratus as a robust platform for continued growth and success. I want to express my gratitude to our dedicated management team and employees, loyal customers, and supportive investors who have played crucial roles in bringing us to this significant moment. I'm immensely proud of what we’ve achieved since Paratus’ emergence as a newly restructured company and am very excited about the opportunities that lie ahead."

Caption: Robert Jensen, CEO of Paratus Energy Services, and Mei Mei Chow, Chair of the Board, rang the bell together this morning to celebrate the listing and the first day of trading on Euronext Growth Oslo. The company was welcomed by Cathrine Lorvik Segerlund, Communications Manager, and Mathias Borge Bye, Listing Account Manager at Euronext Oslo Børs. (Photo: Guro Sommer | NTB)

About Paratus Energy Services Ltd.

Paratus Energy Services Ltd. (“Paratus”) is a holding company of a group of leading energy services companies. Paratus is comprised of its 50% JV interest in Seabras, 100% ownership of Fontis, and a 24% equity ownership stake in Archer. Seabras is a leading subsea services company, with a fleet of 6 multipurpose pipelaying support vessels (PLSV) under contracts in Brazil. Fontis is an offshore drilling company with a fleet of five high-spec jack-up rigs under contracts in Mexico.

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