Cecon turns to share issue to avoid financial crisis

Martyn Wingrove - Friday 11 December 2009

LATE payment from the state oil company in Angola has forced Norwegian offshore shipowner Cecon to raise up to NKr60m ($10.4m) from private placements of new shares.
The Oslo-listed company completed subsea operations in Angola for Sonangol Drilling Co, a subsidiary of Sonangol last month using the 1994-built Nordica, which it chartered from Finsta...

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