Norwegian government nets Eu59m from stock exchange privatisation

Oslo Boers, the Norwegian stock exchange, has completed its Eu59m IPO, with investor demand pushing the price range to the top of the bookbuilding range.

  • 18 May 2001
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The deal is the latest from a growing sector, with Helsinki Exchange, the London Stock Exchange and even the Tokyo Stock Exchange believed to be preparing flotations. Stock exchanges globally are becoming more commercially minded and diversifying into new services.

The Norwegian government sold 5m shares, representing the total share capital of Oslo Boers, at a price of Nkr95 per share. Oslo Boers' IPO was oversubscribed by 3.2 times, with 250 investors and 70 employees applying to purchase shares. Some 80% of the shareholders are institutional investor, 3% are employees and the remainder are retail buyers. Around 20% of the shares were alloted to foreign investors.

A banker close to the deal said that one reason for the success of the deal is that investors are speculating that Oslo Boers might merge with another exchange. "Investors wanted to know what plans the company had for informal or formal links with other exchanges," he said. However, Oslo Boers has no immediate plans to form alliances with other exchanges.

The shares will begin trading on May 29 over the counter, although they may eventually be listed on the Oslo Exchange. Christiana Markets and Enskilda Securities led the IPO.

  • 18 May 2001

All International Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Citi 313,852.39 1175 8.95%
2 JPMorgan 286,674.13 1305 8.17%
3 Bank of America Merrill Lynch 281,869.72 974 8.04%
4 Goldman Sachs 214,547.99 704 6.12%
5 Barclays 205,147.76 790 5.85%

Bookrunners of All Syndicated Loans EMEA

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Deutsche Bank 31,971.88 102 6.84%
2 HSBC 31,343.18 140 6.70%
3 Bank of America Merrill Lynch 28,468.55 82 6.09%
4 BNP Paribas 24,679.63 135 5.28%
5 SG Corporate & Investment Banking 22,195.55 122 4.75%

Bookrunners of all EMEA ECM Issuance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 15,956.24 68 8.20%
2 Morgan Stanley 15,028.69 75 7.73%
3 UBS 14,195.29 55 7.30%
4 Citi 13,827.82 85 7.11%
5 Goldman Sachs 11,994.74 65 6.17%