Aban likely to launch up to $150 million share sale on Friday

Aban's board had on May 28 approved share offering worth up to Rs 2,500 cr to institutional investors

Aban Offshore Ltd , an offshore drilling rig services company, is likely to launch a share sale to raise as much as $150 million on Friday, two people directly involved in the deal said.

Aban's board had on May 28 approved share offering worth up to Rs 2,500 crore to institutional investors.

An Aban Offshore spokesman was not immediately available for comment.

Axis Capital is the lead manager to the Aban issue, said the sources, who declined to be named as the details of the deal is not public yet.