International drilling contractor Borr Drilling files for a $50 million US IPO

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Borr Drilling, an offshore drilling company that operates 27 rigs in five geographic locations, filed on Wednesday with the SEC to raise up to $50 million in an initial public offering.

Borr Drilling has been listed on the Oslo Børs since 2017 and currently trades under the symbol BDRILL; it closed yesterday at NOK 83.29 (27% return from IPO).

The Hamilton, Bermuda-based company was founded in 2016 and plans to list on the NYSE under the symbol BORR. Borr Drilling filed confidentially on April 30, 2019. Goldman Sachs and DNB Markets are the joint bookrunners on the deal. No pricing terms were disclosed.

The article International drilling contractor Borr Drilling files for a $50 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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