Ocean Rig redomiciles to Cayman Islands

Offshore driller Ocean Rig will move its corporate domicile from one offshore financial center to another – from the Marshal Islands to the Cayman Islands.

The driller, run by the Greek shipping magnate George Economou, said that starting April 15, Ocean Rig’s common shares will start trading under new CUSIP number G66964100.

“All shares of Ocean Rig will automatically convert by operation of law into shares of the same class of the redomiciled Ocean Rig on a one-for-one basis. A registration statement on Form F-4 relating to the common shares of Ocean Rig has been declared effective by the Securities and Exchange Commission,” Ocean Rig said.

The company, specializing in the ultra deepwater and harsh-environment segment of the offshore drilling industry, said the change of corporate domicile will not affect day-to-day business operations of Ocean Rig.

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