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Warburg Pincus floats emgs30/03/2007. Source: AltAssets. 
 ElectroMagnetic GeoServices (emgs) has priced its IPO on the Oslo Stock Exchange at NOK135 per share. emgs is a provider of SBL services, a technology that enables the detection of hydrocarbons beneath the seabed prior to drilling.
The offering of a total of 19,623,200 shares consisted of 14,123,200 shares sold by current shareholders, including Warburg Pincus and members of emgs' management team and board of directors, and 5,500,000 shares issued and sold by emgs.
The offering raised NOK2.649bn in gross proceeds, with NOK743m received by emgs.
Entities affiliated with Warburg Pincus have granted the managers an option, exercisable within 30 days after the closing of the offering, to sell up to an additional 1,850,000 shares to cover overallotments or short positions.
The offering was approximately 13 times subscribed at the IPO price by international and Norwegian investors, according to a statement.
emgs and Warburg Pincus have agreed to a lock-up period of six months, and members of emgs' management team and board of directors have agreed to a lock-up period of 12 month on their holdings.
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