Bouvet Becomes The First Company To Transfer From Oslo Axess To Oslo Børs

The Board of Directors of Oslo Børs resolved at its meeting on 24 November to admit shares in Bouvet ASA to listing on Oslo Børs. Bouvet has been listed on Oslo Axess since 15 May 2007.

”It is a great pleasure to welcome Bouvet to Oslo Børs as the first company to transfer from Oslo Axess. When we established the Oslo Axess marketplace in 2007, our intention was to create a marketplace for companies that did not qualify in every respect for listing on Oslo Børs, but did nonetheless satisfy the relatively stringent requirements we believe are necessary for any share that is traded on a marketplace. Bouvet is an extremely good example of a high-quality company which, following its listing on Oslo Axess, has now qualified for listing on the Oslo Børs marketplace”, explains Bente A. Landsnes, President and CEO of Oslo Børs.

The main difference between the Oslo Axess and Oslo Børs marketplaces is that the requirements for listing on Oslo Axess are somewhat less stringent than for listing on the Oslo Børs marketplace. This principally relates to somewhat lower thresholds for the time the company has been in existence, its market capitalisation and the spread of shareholding. However, when a company is admitted to listing on Oslo Axess, it is subject to the same continuing obligations towards the marketplace and investors as apply to companies listed on Oslo Børs. In other words, the two marketplaces operate with similar provisions for investor protection.

”Our listing on Oslo Axess has helped to improve Bouvet’s visibility. The company has attracted attention from a number of investment analysts, and this in turn has helped to increase both investor interest and the liquidity of our shares. Over the time we have been listed, we have reported strong growth in revenue and earnings, as well as in customer numbers and the number of consultants we employ. These developments, together with an expanding shareholder base, mean that listing our shares on Oslo Børs is now a natural next step for Bouvet as a company”, comments Sverre Hurum, CEO of Bouvet ASA.