The company has rig operations and offices across four regions —
The global offer is expected to be a minimum target offering of
Following the IPO, the company's shares will be listed on the main market of the
Shelf Drilling is the world's largest independent leg cantilever (ILC) jackup fleet operator focused solely on shallow water markets. The Group is a provider of offshore contract drilling services in water depths of up to 400 feet.
"Since its creation in 2012, Shelf Drilling has proven the appeal of this offering to customers with strong growth in revenues and the exceptional development of our contract backlog. Becoming a public company will further enable us to invest in the drilling services our customers seek and build sustainable, profitable growth in the world's most prolific hydrocarbon-bearing shallow water basins,"
The Group's fleet consists of 37 ILC jackup rigs, two contracted ILC jackup rigs under construction and one swamp barge. Shallow water accounts for 85 per cent of global offshore production, and 77 per cent of global offshore reserves.
For the year ended
Following the IPO, the company intends to adopt a dividend policy with a pay-out ratio of 40 to 60 per cent of net income, reflecting the group's robust liquidity, moderate leverage, strong contract backlog and forward revenue visibility.
"Shelf Drilling is now a significant force in its markets and presents an investment proposition combining capital growth with an attractive dividend stream," said Sir
Full details of the Global Offer will be available in the prospectus that is expected to be published in the coming weeks.
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