PGS issues $275 mln shares to expand seismic fleet

Norwegian oil services provider Petroleum Geo-Services issued on Tuesday $275 million in shares to expand its fleet, betting on a strong recovery in the market for seismic scans in search of oil and gas.
PGS shares were down 4.2 percent to 82.95 crowns at 0951 GMT after dipping as much as 5 percent. In a sign of confidence in the company, they hovered around the issue price of 83 crowns despite a 1 percent fall on Oslo's .OSEBX index.
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Source: Reuters