"We are extremely pleased with the sale process, and we have attracted a broad and very attractive shareholder structure. The list includes leading investors from both Norway and the international markets, and this represents an expression of confidence in Oslo Exchanges and the Norwegian market. We will now work together with our new shareholders to create an even better and more liquid market in Oslo". comments Sven Arild Andersen, President and Chief Executive Officer of Oslo Exchanges.
Approximately 250 investors had applied to purchase shares when the offer closed at 17.00 hrs on Monday 21 May, in addition to approximately 70 employees. The offer comprised a total of 5,000,000 shares representing the entire share capital of Oslo Børs Holding ASA. Prior to the offer period the share price was expected to be between NOK 75 and NOK 95.
The offer comprised a public offer in Norway, an offer to institutions and other professional investors and an offer to employees. The public offer was subject to minimum and maximum limits for applications and allotment of NOK 300,000 and NOK 2 million respectively, whilst the offer to institutional investors was subject to a minimum application of NOK 2 million.
The public offer attracted ca. 150 applications for a total of NOK 126 million. The institutional offer attracted ca. 100 applications for a total of NOK 1,473 million which represents an over subscription of four times the number of shares offered. The institutional offer was allotted 80% of the total number of shares making up the offer.
The offer to employees represented up to 3% of the total shares on offer, and all employees that applied for shares accordingly received the shares applied for in full. Approximately 70% of a total of 100 employees applied for shares worth ca. NOK 4 million.
Shares in Oslo Børs Holding ASA will not initially be stock exchange listed. However the manager for the share offer, Orkla Enskilda Securities, will quote prices in the share and report these to the information system for un-listed shares operated by the Association of Norwegian Stockbroking Companies.
It is expected that shares in Oslo Børs Holding ASA will be registered with the Norwegian Central Securities Depository (VPS) on Monday 28 May, which is also the date on which settlement is expected to take place. It is intended that trading in the shares on the list operated by the Association of Norwegian Stockbroking Companies will commence on Tuesday 29 May.
