SUBSCRIBE
PROFILE

Borr Drilling raises $102.5mn through issuance of 50 million ordinary shares

Offshore drilling company Borr Drilling Limited announced the completion of an initial tranche issuance of 30 million ordinary shares out of the planned 50 million, raising $61.5mn towards the total goal of $102.5mn.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90$/month

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99$/year

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sign up for free to unlock this article

Offshore drilling company Borr Drilling Limited, based in Bermuda, has confirmed the closing of the first tranche of a public issuance of ordinary shares aimed at raising a total of $102.5mn. This operation involves a total issuance of 50 million ordinary shares priced at $2.05 each.

First tranche of the operation completed

The first tranche of the operation consists of 30 million ordinary shares, corresponding to gross proceeds of $61.5mn. The second tranche, consisting of the remaining 20 million shares, is expected to be completed on August 7, 2025. However, this completion remains conditional upon the prior approval by Borr Drilling shareholders of an increase in the company’s authorised share capital.

This approval will be discussed at a special general meeting scheduled for August 6, 2025. Should the shareholders validate the proposal, the company will proceed with the final closing of this public issuance. The overall objective is therefore to strengthen its equity position within a context of increased financing needs.

Allocation and use of funds raised

According to information provided by Borr Drilling, funds raised will primarily finance general corporate purposes. These include servicing existing debt, covering capital expenditures, as well as funding the company’s working capital requirements.

Banks DNB Carnegie, Clarksons Securities, Citigroup and Goldman Sachs & Co. LLC are jointly acting as bookrunners on this financial operation. Their mandate notably covers the organisation and placement of shares on the concerned international financial markets.

Immediate effects on capital structure

Following this first phase of issuance, the share capital of Borr Drilling Limited increased by $3mn to reach a total amount of $26,622,486.60. The capital now consists of 266,224,866 ordinary shares, each with a nominal value of $0.10.

This issuance represents a significant step for the company’s financial strategy, enabling it notably to meet short-term commitments while ensuring adequate financial flexibility in the medium term. This operation takes place amid a global context of increasing demand for offshore drilling services.

  • Popular on energynews.pro
Orazul Energy launches cash tender offer for its 2027 notes
Iraq in talks with ExxonMobil for refining capacities in Asia
Greek shipowners cut Russian crude links under new compliance rules
Envision Energy signs exclusive agreement for 4.5 GW wind project in Turkey
NatPower Marine and Wah Kwong launch electric port network across 30 Asian ports
Anglo American and Teck merge to form copper giant in zero-premium deal
The announced merger between Anglo American and Teck forms Anglo Teck, a new copper-focused leader structured for growth, with a no-premium share structure and a $4.5bn special dividend.
Voltalia unveils SPRING, a strategic plan to restore profitability by 2026
Voltalia launches a transformation programme targeting a return to profit from 2026, built on a refocus of activities, a new operating structure and self-financed growth of 300 to 400 MW per year.
Ineos pulls capital from the UK and commits £3bn investments in the US
Ineos Energy ends all projects in the UK, citing unstable taxation and soaring energy costs, and redirects its investments to the US, where the company has just allocated £3bn to new assets.
Eskom rules out summer load shedding with 4000 MW added capacity
Eskom forecasts a load-shedding-free summer after covering 97% of winter demand, supported by 4000 MW added capacity and reduced operating expenses.
GE cuts 600 energy jobs in Europe, including 120 in France
GE Vernova will cut 600 jobs in Europe, with the Belfort gas turbine site in France particularly affected, amid financial growth and strategic reorganisation.
SOLV Energy strengthens infrastructure capabilities with two strategic acquisitions
SOLV Energy expands its nationwide services in the United States with the acquisitions of Spartan Infrastructure and SDI Services, consolidating its presence across all independent power markets.
Plural raises $7.13mn to fund decentralised energy assets
Tokenised asset platform Plural secures $7.13mn to accelerate financing of distributed infrastructure including solar, storage, and data centres.
Santander injects funds into Corinex to accelerate power grid digitalisation
Santander Alternative Investments has invested in Corinex to accelerate the deployment of its smart grid solutions, aiming to address growing utility needs in Europe and the Americas.
Industrial control transformer market to reach $1.48bn by 2030
Driven by grid modernisation and industrial automation, the global control transformer market could reach $1.48bn in 2030, with projections indicating steady growth in energy-intensive sectors.
Italy faces ten-year delay on EU climate targets
A report from energy group Edison highlights structural barriers slowing renewable deployment in Italy, threatening its ability to meet 2030 decarbonisation targets.
Dr Sultan Al Jaber wins ICIS CEO of the Year 2025 award for strategic performance
ADNOC Group CEO Dr Sultan Al Jaber has been named 2025 CEO of the Year by his global chemical industry peers, recognising his role in the company’s industrial expansion and international investments.
OX2 appoints Matthias Taft as new CEO after Paul Stormoen’s departure
Swedish renewable energy developer OX2 has appointed Matthias Taft as its new chief executive officer, succeeding Paul Stormoen, who led the company since 2011 and will now join the board of directors.
Global renewable energy investments reach $386 billion in first half
Driven by distributed solar and offshore wind, renewable energy investments rose 10% year-on-year despite falling financing for large-scale projects.
Australian Oilseeds granted a reprieve from Nasdaq to meet equity threshold
Australian Oilseeds Holdings was granted a deadline extension until 30 September to comply with the Nasdaq’s equity requirements, avoiding immediate delisting from the exchange.
Fermi America raises $350mn for its energy project dedicated to artificial intelligence
Fermi America has closed $350mn in financing led by Macquarie to accelerate the development of its HyperGridâ„¢ energy campus, focused on artificial intelligence and high-performance data applications.
Soluna crosses one gigawatt milestone with two new data centres in Texas
Soluna Holdings launched two energy projects in Texas, reaching one gigawatt of cumulative capacity for its data centres, marking a new stage in the development of computing infrastructure powered by renewable energy.
Martijn Hagens to lead Eneco from March 2026
Eneco’s Supervisory Board has appointed Martijn Hagens as the next Chief Executive Officer. He will succeed interim CEO Kees Jan Rameau, effective from 1 March 2026.
Data centres in Japan to drive 60% of electricity demand growth by 2034
With $28 billion in planned investments, hyperscaler expansion in Japan reshapes grid planning amid rising tensions between digital growth and infrastructure capacity.
Ørsted suffers historic drop and closes at around 26 USD after offshore project suspension
The suspension of the Revolution Wind farm triggers a sharp decline in Ørsted’s stock, now trading at around 26 USD, increasing the financial stakes for the group amid a capital increase.
Hydro-Québec increases net income and intensifies investments
Hydro-Québec reports net income of C$2.3 billion in the first half of 2025, up more than 20%, driven by a harsh winter and an effective arbitrage strategy on external markets.

Log in to read this article

You'll also have access to a selection of our best content.