HitecVision has fully sold its stake in SED Energy
Norwegian investment company HitecVision has fully exited its stake in SED Energy Holdings, selling its share for 1 billion Norwegian kroner. The deal attracted significant interest among investors.
Ratio
The Norwegian investment company HitecVision has sold its stake in the drilling and geophysical company SED Energy Holdings, receiving 1 billion Norwegian kroner (112 million dollars) from the deal.
HitecVision became a shareholder in SED Energy Holdings in 2013. SED Energy Holdings was formed through the merger of the drilling company Energy Holdings and the geophysical company Seabird Exploration.
SED Energy Holdings, listed on the Oslo Stock Exchange, announced the sale of 130 million shares by HitecVision (through HV VI Invest Uraz). This stake represents 21% of the company’s voting shares and 17.9% of the total shares issued. The transaction was completed at a price of 8 Norwegian kroner per share, amounting to a total of 1.04 billion Norwegian kroner.
Strong investor interest led to an increase in the offering volume from 100 to 130 million shares, enabling HitecVision to fully exit its investment in SED Energy Holdings.