illustration courtesy CGGVeritas

Bergen-, Norway based Arrow Seismic announced its initial public offering on the energy-focused Oslo burse Monday, a listing expected to up its market worth to NOK1.5 million.

With the seismic sector booming, the company expects to raise NOK441 in the offering made to international institutional investors and Norwegian private investors.

The company’s develops, owns and operates seismic vessels and has benefited from shareholder Rieber Shipping’s 40 years in the industry. It has contracted ships to Fugro Goeteam and CGCVeritas and four vessels under construction.