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Equity
 12 Months Ended
Dec. 31, 2021
Equity [Abstract]  
Equity
Note 28 - Equity

Authorized share capital

(number of shares of $0.10 each)
20212020
Authorized shares: Balance at the start of the year119,326,923 68,750,000 
Increases:
June 4, 2020— 23,076,923 
August 10, 2020— 20,000,000 
November 11, 2020— 7,500,000 
January 11, 202125,673,077 — 
June 4, 202135,000,000 — 
Authorized shares: Balance at the end of the year180,000,000 119,326,923 

Issued and Outstanding Share Capital

(number of shares of $0.10 each)
20212020
Issued : Balance at the start of the year110,159,352 56,139,033 
Shares issued (1):
June 5, 2020 — 23,076,923 
October 5, 2020 — 25,943,396 
November 30, 2020 — 5,000,000 
January 22, 2021 27,058,823 — 
Issued shares: Balance at the end of the year137,218,175 110,159,352 
Treasury Shares (2)
406,333 729,858 
Outstanding shares: Balance at the end of the year136,811,842 109,429,494 

(1) As of December 31, 2021, our shares were listed on the Oslo Stock Exchange and the New York Stock Exchange. Details of shares issued for the years ended December 31, 2021 and December 31, 2020 are as follows:

Date of IssueType of ListingExchangeShares IssuedPrice per ShareGross Proceeds ($ millions)
June 5, 2020Private placementOslo23,076,923 $1.30 30.0
October 5, 2020Private placementOslo25,943,396 $1.06 27.5
November 30, 2020Private placementOslo5,000,000 $1.06 5.3
Total54,020,319 62.8 
January 22, 2021Private placementOslo27,058,823 $1.70 46.0
(2) During the year ended December 31, 2021, the Company issued 323,525 common shares using treasury shares, to directors as compensation. The value on the date of issuance of $0.8 million has been recognized in "General and Administrative expenses" in the Consolidated Statements of Operations. The loss on issuance of treasury shares has been recognized as a reduction in "Additional Paid in Capital" in the Consolidated Balance Sheets. No treasury shares were issued in the year ended December 31, 2020.

Date of Treasury Share IssuanceNumber of Shares IssuedShare Price on Issuance DateValue on Issuance Date ($ million)Book Value ($ million)Loss on Issuance ($ million)
March 18, 2021275,132 $2.4 0.7 10.4 9.7 
July 14, 202148,393 $1.7 0.1 2.1 2.0 
323,525 0.8 12.511.7