The PPI share falls on its stock market debut – E24

The PPI share falls on its stock market debut – E24
The PPI share falls on its stock market debut – E24
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The IT company Carasent rises more than 30 per cent after billion bid.

Ilija Batljan rings the stock exchange bell on Monday when Public Property Invest is listed on Oslo Børs. Photo: Terje Pedersen / NTB
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Updated less than 10 minutes ago

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The matter is updated throughout the trading day.

The main index opened weakly, but fell 0.17 per cent shortly before 10.40am.

A barrel of North Sea oil (burnt spot) trades for $87.79. It is roughly the same as the day the stock exchange closed on Friday, and a decrease of 0.3 per cent since midnight.

This is how it looks for some of the most traded shares at 10.40 am:

  • Equinor falls 0.86 percent
  • Yara is down 1.16 percent
  • DNB is down 0.48 percent
  • Aker BP falls 1.72 percent
  • MPC Container Ships is up 0.46 percent

Read on E24+

Five experts: This is how we would invest NOK 100,000 now

PPI is listed on the Oslo Stock Exchange

The company Public Property Invest (PPI) has its first day on the Oslo Stock Exchange today.

On Thursday evening, the company announced that the fundraising in connection with the stock market listing had been completed.

As previously announced, the subscription price was NOK 14.5 per share. This indicates a market value of NOK 3.025 billion.

PPI is associated with Samhällsbyggnadsbolaget i Norden (SBB) and owns Norwegian properties worth around NOK 9 billion.

The share opened slightly lower, falling 8.77 per cent at 10.40 as the most traded.

Bids 1.4 billion for Carasent

EG Norway will buy the IT company Carasent for 1.4 billion, according to a stock exchange announcement.

The company is offering a price of NOK 20 per share, which corresponds to 81.8 per cent of the Carasent share’s closing price on 23 April. The date was the last trading day before the company published its report for the first quarter of 2024.

The bid corresponds to a price of approximately NOK 1.4 billion.

According to the stock exchange announcement, the offer has already received “strong support” from key shareholders who represent 34 percent of the share capital in Carasent, including the main shareholder Acaptial Cara Holdco.

The share rises 32.17 percent.

Included on the EU list

The renewable company Horisont Energi has been included in the EU’s list of “Project for Mutual Interest (PMI)” as part of the European Nautilus CCS network, according to a stock exchange announcement.

It involves close cooperation with several companies that are leaders in carbon capture and storage, and will open access to public support programs designed to speed up the energy transition, according to Co-CEO Bjørgulf Haukelidsæter Eidisen.

The company is developing the Gismark CO₂ Hub terminal in Rogaland. It will offer an efficient logistics solution for carbon storage licenses, with a capacity of up to 24 million tonnes per year.

The Horisont share rises 2.7 per cent.

Wants to go public – fetches DKK 1.5 billion.

Jordanes will apply for a listing on Oslo Børs, according to a stock exchange announcement on Monday morning. The company previously announced that it was considering a listing, but has now decided.

In connection with the listing, Jordanes will collect NOK 1.5 billion. The money will be used, among other things, to strengthen the capital structure and provide increased flexibility.

– This is a milestone for Jordanes, says Jan Bodd, CEO and co-founder in a statement.

The company is behind brands such as Synnøve Finden, Peppes Pizza, Sørlandschips and Backstube.

Rise in world markets

There was mostly an increase on Asian stock exchanges in the morning hours.

The Japanese yen continues to fall, and the rate at one point hovered around 160 against the dollar. It hasn’t done that since 1990, according to CNBC.

On the stock exchanges in Europe, there is mainly an increase on Monday morning. The collective index Stoxx Europe 600 is up 0.36 per cent at 10.40am.

The article is in Norwegian

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