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Amid the crown crisis, the high-profile video conferencing company goes public. From the beginning, the market value increased by DKK 2.6 billion.
UNDRADITIONAL: A digital form of bell ceremony was performed when the exchange opened on Thursday. All Pexip employees had their own bell at the successful digital ceremony. In the former stock exchange director Øyvind Amundsen
Ørn E. Borgen // NTB Scanpix
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After raising more than NOK 1 billion on the issue prior to the IPO, video conferencing company Pexip was listed on the Oslo Stock Exchange on Thursday.
The problem was completed at a price of NOK 63, which gave the company a market value of NOK 6.3 billion before listing.
Shortly after the opening of the stock exchange, the first operation was completed at a price of NOK 90. This represents a 43% increase in the share price.
The stock closed the day of trading up 38.8 percent. This represents a market value of NOK 8.6 billion. The shares traded for NOK 2.18 billion, making the company the clearest operator during the day.
The list is the largest ever made by a technology company in the Nordic region.
Read on E24 + (for subscribers)
Pexip Goes Public: You Need To Know This About Exchange’s New IT Favorite
Non-traditional bell ceremony
Due to the situation of the crown, a somewhat unconventional bell ceremony was held on the occasion of the IPO.
The director of the stock exchange, Øyvind Amundsen, rang the bell at the opening of the stock exchange before virtually handing it over to Pexip CEO Odd Sverre Østlie. From his office, he should have called the bell with the employees and the board, who also should have had their own bell, according to a company press release.
“For us, being able to do this solely on video is a natural way to involve the entire company on listing day, which underpins one of our core values, a team,” board chairman Michel Sagen says in a comment.
Digital listing of actions
The company claims that the company is called IPO (initial public offering), or the pre-listing offering period, as the first to be done exclusively digitally.
– We use our own video conferencing platform to execute 99 percent of the IPO process (investor meetings, other meetings and the construction of the order book in the subscription of shares). Investor meetings were held in more than 15 cities around the world, Pexip CEO Odd Sverre Østlie said in a comment.
Østlie believes that the listing process was not adversely affected by everything that happens in the video.
– The fact that 100 percent of virtual roadshow meetings 1-1 led to draws in the IPO shows that holding the video meetings did not make them less effective, he says.
The company believes it has saved 1,700 hours or more than 70 days in travel time due to the fully digital listing process. In addition, the company must have saved 80 tons of CO₂.
– The bottom line is that implementing the process on video has saved time and emissions, and made the process much more efficient, Østlie says.
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