Helix Energy to reduce Cal Dive stake - New Mexico Business Weekly:

http://www.dwwork.com/kow21.html
The Houston-based offshore energy company planws to offer 20 million shares in Cal Dive througjh a public offeringat $8.5o0 per share, with an option for underwriterd to purchase an additional 3 million sharesa to cover over-allotments. Helix (NYSE: HLX) also has agreed to sell Cal Dive anadditionaol $14 million worth of shares at a price equao to the offering. Houston-based Cal Dive (NYSE: DVR) has 94 milliohn shares outstanding. When the offering closes and Cal Dive repurchasexsits allocation, Helix’s ownership in Cal Dive will be reducex to 25 percent from 51 percent, accordingt to a regulatory filingv with the .
If the over-allotment optionb is not exercised, Helix’s ownershio will be 28 percent. Heliz expects to use the proceeds for generalpcorporate purposes. Helix shares closed at $11.25 on Friday and were trading at $11.92 mid-morning while Cal Dive shares closee Fridayat $10.09 and were tradiny at $9.85 mid-morning on