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Seadrill moves ahead with spinoff listing without strategic partner

  • Seadrill (SDRL -0.3%) says it is putting on hold plans to bring in a strategic partner to its North Atlantic Drilling harsh-environment spinoff but will continue to proceed with an independent NYSE listing.
  • SDRL says it remains committed as a long-term shareholder in North Atlantic Drilling and establishing it as an independently listed and financed entity is an important strategic goal.
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Comments (2)
  • mkarpoff
    , contributor
    Comments (212) | Send Message
     
    I don't understand. N Atlantic is already traded independently. Can someone explain this to me? Thx.
    11 Oct 2013, 12:07 PM Reply Like
  • FlaYankee
    , contributor
    Comments (123) | Send Message
     
    NATDF is a pink sheet listing which prohibits some mutual funds as well as institutional funds from buying the shares, by coming over to one of the main exchanges such as the NYSE or the NASDAQ the shares are opened up to many more buyers. Listing requirements for the pink sheets are much easier but this also allows shaky companies to get in who wouldn't be allowed on the major exchanges, I personally wouldn't hesitate to buy shares off the pink sheets but due diligence is required so as to avoid the minefields. Long NATDF as well as SDRL.
    11 Oct 2013, 01:58 PM Reply Like
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