Jan 7 Brazilian contract driller QGOG
Constellation S.A. filed with U.S. regulators on
Monday to raise up to $500 million in an initial public offering
of its common stock.
The driller said in a filing with the U.S. Securities and
Exchange Commission that J.P.Morgan, BofA Merrill Lynch, Itau
BBA, Credit Suisse and Bradesco BBI would underwrite the
QGOG, which is controlled by the Queiroz Galvao family, said
it would use proceeds from the IPO to make down payments on two
ultra-deepwater drillships and fund capital expenditures on
certain existing projects.
The company, which is headquartered in Luxembourg, said it
intends to list its common shares on the New York Stock Exchange
under the symbol 'QGOG'.
The company had a contract backlog of about $10.9 billion as
of Sept. 30, 2012. It derives almost all its revenue from
Brazil's state-led oil company Petrobas.
The amount of money a company says it plans to raise in its
first IPO filing is used to calculate registration fees. The
final size of the IPO could be different.