Financial News
Written by: Zhang Weilun
2020-10-08 18:17
Last update date: 2020-10-08 18:17
Swire Pacific (0019) announced that Swire Blue Ocean A/S (SBO), a subsidiary of Swire Ocean Development, which is engaged in the installation of fan blades and bases for offshore wind power stations, will be listed on the Oslo Stock Exchange in Norway, and SBO will also be renamed It is Cadeler A/S.
Swire pointed out that SBO's main business is the installation of fan blades and foundations for offshore wind power stations, and the provision of operation and maintenance services, accommodation, mast installation and removal and dismantling services for the offshore wind power industry in northern European waters.
The proposed spin-off will give SBO access to external capital channels, enabling SBO to increase orders and operational capabilities, strengthen operational flexibility, and seize opportunities to explore the offshore wind power market emerging in the United States and North Asia. Therefore, it is expected to help SBO next Phase expansion plan.
Swire Ocean Development intends to continue to be an important shareholder of SBO after SBO completes its spin-off.
Swire also pointed out that SBO has appointed DNB Markets and SpareBank 1 Markets as joint global coordinators and bookrunners for the spin-off, and the spin-off is expected to be completed in the fourth quarter of this year.
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Swire spin-off and listing
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