Oslo Børs rejects – steep decline for Norwegian after share launch – E24

Oslo Børs rose from the beginning on the last trading day of the week. However, in the morning, the trend has reversed and the main index is down 0.26%.

The price of oil has also fluctuated during the morning. At the time of writing, around 11.05, the price of oil (Brent spot) falls 0.92 percent on the day to 43.06 dollars a barrel.

The development in the Stock Exchange comes after a busy morning in which Chinese stock exchanges have risen sharply after being closed for more than a week. At the same time, US stock markets rose on Thursday night.

It is worth noting that 900 million Norwegian shares will be opened for trading on Friday after being covered by a so-called lockdown agreement. The shares originate from the conversion of the debt into shares of the airline earlier this year.

Norwegian stocks fell from the beginning and the slide has intensified throughout the day. By morning, the stock was down 21.46 percent to around 72 øre.

Of other shares, Arcticzymes Technologies rises more than eleven percent after a subsidiary entered into a delivery and distribution agreement with Jiansu Simcere Diagnostics for the delivery of HL-San.

So far this year, the biotech company, formerly called Biotec Pharmacon, has grown enormously by 1,650 percent. This makes the action by far the biggest winner for Børsen so far this year.

100th newcomer to Børsen since 2016

On Friday, CSAM Health Group will be listed on Merkur Market. The e-health company has recently raised NOK 325 million by issuing 4.6 million new shares at a subscription price of NOK 70. This gives the company a market value of NOK 1.46 billion.

– Today represents a milestone in CSAM history. Through this IPO, we significantly broadened the shareholder base and thereby gain access to capital to continue our strong expansion, CSAM’s CFO Einar Bonnevie says in a statement.

In the morning, the stock is trading at NOK 83, an increase of 18.6 percent from the trading price. This increases the market value to NOK 1.73 billion.

The company’s listing also marks the 100th newcomer to the Børsen markets since 2016, the Oslo Stock Exchange writes in a press release. Of these, 59 have been included in Merkur Market.

Mercury changes its name

– With Merkur Market, we wanted to open the doors of the stock market to more companies. We are very satisfied with the interest. The flow of startups we see now is unparalleled, says stock exchange director Ø vivos Amundsen in a comment.

In connection with the exchange trading system change in one month, Merkur Market will change its name to Euronext Growth. At the same time, Oslo Axess changes its name to Euronext Expand. Oslo Børs will keep its name.

The change in the trading platform means that Merkur Market will become part of Euronext’s pan-European market for growth companies.

– This provides our companies with an even larger audience of investors. Both companies and investors will benefit from this. Companies will have the opportunity to meet more investors and, with more investors in the trading system, the liquidity of the shares will increase, says Amundsen.