Fred Olsen Windcarrier (FOWIC) has put its planned flotation on the Oslo Stock Exchange on hold.
The offshore wind jack-up firm said that during the book building for the planned flotation, the market conditions for IPOs have been severely impacted, not at least by geopolitical tensions.
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FOWIC said it had “now resolved to place the process on hold, and will consider resuming an IPO process given i.a. improved conditions”.
The company added that it remains fully financed for its fleet upgrading programme enabling its three vessels to efficiently install the next generation wind turbines.
It also has a revenue backlog of €355m now, and “will continue to pursue its long term strategies with a view to reinforce its position in a growing market”.