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At the end of August, Kjell Inge Røkke’s Aker Solutions spun off the Aker Carbon Capture renewable investment initiative into a separate company. Just over a month later, the company’s market value has increased fivefold and as of Tuesday morning it was worth around NOK 6 billion.
The subscription price on the first trading day was NOK 1.7 per share. On Tuesday, it is trading at more than NOK 10 per share.
When the stock market opened Tuesday morning, the stock jumped 19 percent. Since Friday, turnout has increased by about 80 percent.
As the name suggests, the company is dedicated to carbon capture. This weekend, Prime Minister Erna Solberg announced that the government will set aside NOK 2 billion for carbon capture and storage in next year’s state budget. This led to a stock market rise for the company of more than 50 percent.
At the same time, the SEB brokerage house has a clear buy recommendation on the company. They have a target price for the company of NOK 17.5.
“Buy it, buy it if you can,” the company wrote in an update.
In addition to Aker Carbon Capture, Aker also spun off the wind energy company Aker Offshore Wind Holding. It has also seen adventurous growth on the stock market with a 240 percent increase since its listing. The company was down 8.95 percent on Tuesday and has a market value of three billion kronor.
The main index of the Oslo Stock Exchange has risen 0.2 percent since the beginning.
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