[ad_1]
A strong public listing gave Magnus Carlsen a NOK 15 million paper profit in just a few minutes.
Published:,
The Oslo Stock Exchange opens the day higher after US stock exchanges rose sharply on Wednesday night.
The leading index rose 0.41 percent to 875.46 points in early trading.
For the fourth day in a row, a newcomer will arrive in Børsen on Thursday when the chess company Play Magnus is listed on Merkur Market.
Before listing, the company raised NOK 300 million by issuing new shares at NOK 21 each. Therefore, the company had a market value of close to NOK 1.1 billion before listing.
Shortly after the stock market opened, the stock was trading at NOK 24, an increase of about 14 percent.
also read
Carlsen on the stock market: Now Play Magnus is worth 1.1 billion
– Milestone in the history of the company
It is the well-known chess player Magnus Carlsen who has given the name to the company. Through the Magnuschess company, he owns 9.5 percent of the shares of Play Magnus together with his father Henrik, according to documents that Play Magnus has published.
Based on the price increase, Carlsen has a paper profit of around NOK 15 million shortly after listing, E24’s calculations show. The chess star’s shares are now worth around NOK 119 million.
Earlier this week, VG asked Carlsen what it was like to have a publicly traded company under his own name.
– I have not thought about it much, but it is definitely a milestone in the history of the company, replied the chess star.
He also stated that not Success had been impossible to predict.
– But there has been strong growth, especially in recent years, Carlsen said.
Read on E24 +
Stock Market Wave in Norwegian Tech: The Pros and Cons for Startups
The child gets up after the fall of the number
Of other companies, the interior design chain Kid has released a quarterly update showing that the company had revenue growth of 11.5 percent in the July-September period compared to the same period a year earlier. Online sales increased in the same period by 18.9 percent.
Investors appear to be happy with the numbers, which sent Kid’s shares up 3.11 percent after a few minutes of trading.
Seismic company TGS also released an update on the morning twig that showed it expects to generate net sales after reporting segments of around $ 81 million. This is significantly lower than analyst estimates of $ 101 million.
Following the news, TGS stock enters this morning’s losers list with a 2.83 percent drop.
The price of oil rose 0.36 percent to $ 42.32 a barrel at the opening of the stock market.
