Integrated Wind Solutions Moves for Uplisting on Oslo Stock Exchange

Commissioning service operation vessel (CSOV) owner Integrated Wind Solutions (IWS) has announced its plans to uplist on the Oslo Stock Exchange, marking a significant milestone in the company’s growth journey.

Currently trading on Euronext Growth Oslo, IWS, backed by Awilco, expects the uplisting to take place around February 3. Alongside this move, the company intends to raise approximately NOK30m ($2.6m) through a public share offering in Norway, Denmark, and Sweden. The shares will be issued at a 10% discount to the volume-weighted average price on Euronext Growth Oslo, with the net proceeds allocated for general corporate purposes, as stated by IWS.

With Lars-Henrik Røren at the helm, IWS holds nearly 75% ownership of IWF Fleet, which currently operates four CSOVs with two more set to be delivered from China Merchants later this year. Sumitomo Corporation, a Japanese trading house, acquired a 25.38% stake in IWS in May 2021. Additionally, IWS also has investments in the offshore wind supply chain service company IWS Services and holds a stake in the consultancy and wind farm operator firm PEAK Wind.

IWS CEO Røren expressed enthusiasm for the company’s growth trajectory, stating, “IWS has undergone a remarkable transformation since ordering its first two CSOV newbuildings in January 2021, later increasing to six. Furthermore, IWS Services and PEAK Wind are experiencing strong growth, and the uplisting of our shares to the Oslo Stock Exchange is a milestone and a natural progression that reflects a new phase of the growth journey for IWS.”