IPOs and listings on the Oslo Stock Exchange in 2019

IPO and listing activity

  • The listing activity on the Oslo Stock Exchange has been cyclical since 2010, and the activity, both in terms of number of listings and capital raised, peaked somewhat in 2017 before slowing down again in 2018.

  • We were pleased to see that 2019 proved to be a stronger year than 2018 in terms of the number of new listings: 13 listings on Oslo Børs/Oslo Axess | Nine listings in 2018.*

  • The trend is opposite on Merkur Market, with only three listings in 2019 compared to 13 in the top year of 2018.

  • In terms of capital raised in connection with new listings on the Oslo Stock Exchange, 2019 was approximately on the same level as 2018.

* Excluding transfers from Oslo Axess to Oslo Børs

Source: The Oslo Stock Exchange

Key trends

  • Stock exchange introductions in the form of a listing combined with a pre-listing private placement (as apposed to a traditional IPO): Klaveness Combination Carriers (KCC) and Hafnia Limited.

  • Listings as part of a larger transaction: the spin-off of Adevinta and the merger resulting in TietoEvry.

  • Two PE-exits (SATS and the comeback of Norske Skog).

  • The traditional Norwegian industries (shipping and oil & gas) represented a substantial part of the new listings: Hafnia Limited, 2020 Bulkers Ltd., KCC, Okeanis Eco Tankers Corp and OKEA.

  • Record high combined market capitalization of companies admitted to listing (second only to 2001).

Listings on Oslo Børs and Oslo Axess