- Market capitalisation of NOK 3.025 billion
- NOK 1.52 billion raised
- The first listing of the year on Oslo Børs and the 13th on Euronext
Euronext Oslo Børs today congratulates the real estate company Public Property Invest, on its listing on Oslo Børs (ticker code: PUBLI).
The company was founded in 2021 by the companies Samhällsbyggnadsbolaget i Norden (SBB) and Arctic Securities. Public Property Invest owns, manages, and develops public properties, boasting a portfolio of Norwegian real estate that is currently valued at NOK 9 billion. Its properties are leased to police stations, courts, public health enterprises, and other governmental agencies. Today, 92% of its rental income stems from the Norwegian state or municipalities.
Public Property Invest is the first listing this year on Oslo Børs marketplaces and the 13th on Euronext. During the Initial Public Offering, the company successfully raised NOK 1.52 billion, which is earmarked for future growth initiatives and debt reduction. The offering included segments for institutional investors, retail investors, and existing shareholders.
The share price was set at NOK 14.50 per share at market opening, resulting in the company reaching a market value of NOK 3.025 billion on its first day of trading.
Ilija Batljan, founder of SBB and interim CEO of Public Property Invest, said: “The listing of Public Property Invest on Oslo Børs marks the end of a series of successful transactions, which has created a property company with a long-term strategy of owning, operating and developing attractive and socially beneficial property in Norway. In challenging market conditions, we have raised NOK 1.52 billion in capital which together with the IPO will give opportunity for the company to position itself as a leading consolidator in the Norwegian real estate market with low leverage, high growth ambitions and an attractive dividend policy. We look forward to delivering value to our shareholders”.
Caption:Ilija Batljan, founder of SBB and interim CEO of Public Property Invest, and Theodor Melder, rang the bell this morning to celebrate the listing of Public Property Invest on Oslo Børs main market. The company was welcomed by Øivind Amundsen, CEO of Oslo Børs. (Photo: Thomas Brun/ NTB)
