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NORWAY - Norvestor's SCAN Geophysical completes NOK 315m private placement

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SCAN Geophysical ASA has completed a private placement of approximately NOK 315m. The offering included 24,230,000 new shares with a share price of NOK 13. SCAN will now be listed on the OTC list, and the pricing implies a market capitalisation of the company of NOK 1.065bn.

Norvestor IV LP, which participated in the issue, is the largest shareholder with a holding of around 35.5%.

The new capital will fund three new 3D seismic vessels and seismic equipment for an additional 2D vessel, and thereby secure capacity in a very strong seismic market.

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