Oslo Børs: International Ownership At Its Highest Level Since The Financial Crisis

Non-Norwegian investors’ appetite for shares in companies listed at Oslo Børs has grown steadily for the last decade. During the financial crisis international investors abandoned Norwegian equities, and the proportion of the equity market owned by non-Norwegian investors fell from over 40% to a low of 31.6% in February 2009.

The proportion of the equity market owned by the Norwegian state is at its lowest level since 2007. The increase in the proportion of the equity market owned by non-Norwegian investors is also due to their investments having been in equities that have generated a good return. This is illustrated by the graph below, which also shows how the proportion of the equity market owned by the Norwegian state has changed. The Norwegian state has largely not changed its ownership positions in the last decade, although the proportion of the market it owns has fallen to its lowest level since before the financial crisis. This is partially due to the state’s largest holding having been in Equinor, whose share price – like that of other oil-related companies – has performed less strongly than companies in other sectors at Oslo Børs.