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Oslo Børs has reviewed the allocation of listed companies to liquidity categories based on trading in their shares over the last six months.
The new allocations will come into force from 22 December. The rebalancing exercise has caused 3 changes to the OBX category as well as the transfer of 19 companies in total from OB Match to OB Standard, while there are no upward transfers from the OB Standard category. Of the shares listed for the first time this year, a total of 11 companies move out of the OB New category, while the 11 companies whose shares were first listed in October and November remain in the OB new category with the exception of 2 companies that have entered into liquidity provider arrangements.
Figures from Oslo Børs for trading turnover during the period show that liquidity in listed shares has remained at a record high level, continuing the trend seen in the first half of the year.
Of the 13 companies first admitted to listing in the period 1 April to 30 September, 8 companies are now in the OB Match category. In the case of 6 of these companies, this is because their shares have been traded more than 10 times per day on average, while the other 2 companies have joined the OB Match category as a result of entering into liquidity provider arrangements. The other 5 companies are transferred to the OB Standard category.
Oslo Børs divides all listed shares into categories based on liquidity. The allocation to these categories is shown in, for example, the share price lists published in newspapers. With effect from December, the Oslo Børs liquidity categories will include the following number of companies (figures for the previous period shown in brackets):
OBX - 25 (25)
OB Match - 119 (139)
OB Standard - 58 (37)
OB New - 9 (9)
OB Primary Capital Certificates 20 (20)
The OBX category is normally made up of the 25 most liquid shares listed on Oslo Børs. Shares with a minimum of 10 trades per day on average qualify for inclusion in the OB Match category. The OB Match category also includes companies that have entered into liquidity provider arrangements for their shares. Shares with fewer than 10 trades per day on average are allocated to the OB Standard category. Savings banks with issues of listed primary capital certificates make up a separate category, while shares that have only a short history of listing (listed for less than two months) are included in the OB New category.
Click here to see the allocations to liquidity categories with effect from 22 December 2006.
