Oslo Børs And The Norwegian Securities Dealers Association To Collaborate On The OTC List

Oslo Børs has entered into an agreement with the Norwegian Securities Dealers Association to purchase a 50% interest in Fondsmeglernes Informasjonstjeneste AS (Norwegian Stockbrokers Information Services - FINFO). FINFO is a subsidiary of the Securities Dealers Association, and its activities include the operation and management of the system for trading OTC shares (un-listed shares).

It is part of Oslo Børs’ strategy to contribute to an effective marketplace and value chain for securities in Norway. A high proportion of the companies now listed on Oslo Børs were originally traded through the OTC market, and Oslo Børs considers it strategically important to participate through this part-ownership interest in the development of the OTC market. This market has developed over recent years to become an important part of the total range of marketplaces for financial instruments in Norway.

Through its ownership interest, Oslo Børs wishes to contribute to the continuing development of the system for un-listed financial instruments, working in close collaboration with the Norwegian Securities Dealers Association.

“I am impressed by the progress the Norwegian Securities Dealers Association has encouraged with its OTC list, and I am delighted that we have reached agreement to continue this development in close collaboration with the Association. The Securities Dealers Association has valuable expertise in this area, and we look forward to continuing our collaboration and uniting our resources and expertise to further develop the OTC market”, comments Bente A. Landsnes, President and CEO of Oslo Børs.

“We are very pleased to have signed this agreement with Oslo Børs. The last 18 months have seen 70 new companies join the OTC market, and between them they have raised around NOK 40 billion of capital through new issues. A common feature of these companies is that many of them are working towards listing on Oslo Børs. We are very confident that Oslo Børs will contribute expertise that will make the OTC market an even better offer for companies with plans for stock exchange listing, and this will also benefit those OTC companies that are not aiming for a stock exchange listing. The Securities Dealers Association is also keen to see a unified solution for infrastructure providers in the Norwegian securities market, and this collaboration is a step in this direction”, explains Per Broch Mathisen, Managing Director of the Norwegian Securities Dealers Association.

The transaction is not expected to have any material financial effect for Oslo Børs Holding.