| Ticker: SMVB | Lokkeveien 103, P.O. Box 110 | |
| Exchange: New York Stock Exchange | Stavanger, Foreign N-4001 | |
| Industry: Natural Resources |
| Type of Shares: | American Depositary Receipts | Filing Date: | 10/18/96 | |
| U.S. Shares: | 5,500,000 | Offer Date: | 11/7/96 | |
| Non-U.S. Shares: | 2,500,000 | Filing Price: | - | |
| Primary Shares: | 7,000,000 | Offer Price: | $21.25 | |
| Secondary Shares: | 1,000,000 | Gross Spread: | $0.85 | |
| Offering Amount: | $0 | Selling: | $0.51 | |
| Expenses: | $1,897,500 | Reallowance: | $0.10 | |
| Shares Out After: | 27,034,002 |
| Manager | Tier | Phone |
| Morgan Stanley & Co. Incorporated | Lead Manager | (212) 703-4797 |
| Alfred Berg Fondkommission AB | Co-manager | |
| CS First Boston | Co-manager | (212) 325-2000 |
| Howard, Weil, Labouisse, Friedrichs | Co-manager | (504) 582-2524 |
| Auditor: KPMG Accountants N.V. | |||||
| Audited Income | Latest Unaudited Income | Prior Unaudited Income | Balance Sheet | ||
| 12/31/95 | 6/30/96 | 6/30/96 | |||
| Revenue: | $340.00 | $177.00 | Assets: | $678.00 | |
| Net Income: | $32.00 | $27.00 | Liabilities: | $366.00 | |
| EPS: | $0.94 | $0.79 | Equity: | $312.00 | |
Note: Dollar amounts are in U.S. millions; Audited figures expressed as full year, unaudited figures are partial year | |||||
| Business Description |
| The company is an integrated offshore drilling and oil services company headquartered in Stavanger, Norway. The company provides innovative and technologically advanced well construction services, mobile production solutions, and reservoir and well technology products and services to the offshore oil and gas industry worldwide, with its primary geographic focus today being the North Sea and Southeast Asia. The company owns and operates a high specification fleet of one fourth generation and two third generation semi-submersible drilling rigs and two ultra-large jack-up rigs. All of the rigs are outfitted for operations in harsh environments. The company also provides platform drilling, well services and well maintenance on fixed installations in the North Sea, and operates a fleet of eight self-erecting tender rigs, of which its owns interests in seven, primarily in Southeast Asia. |
| Use of Proceeds |
| The proceeds from the proposed offering will be used to fund capital expenditures. |
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