Yesterday, the Norwegian pulp and newsprint and magazine paper manufacturer Norske Skog, based in Halden, announced its intention to launch an initial public offering (IPO) of its shares and to apply for a listing onOslo Børs.
The company with headquarters in Oslo is currently 100 per cent owned by NS Norway Holdings AS, a subsidiary of funds managed by Oceanwood Capital Management.
The IPO will comprise a public offering to investors in Norway and a private placement to certain institutional and other professional investors internationally, in which the current sole shareholder NS Norway Holding intends to reduce its ownership in the company.
Subject to receiving the relevant approvals from Oslo Børs as well as the prevailing equity capital market conditions, the IPO is expected to price in the fourth quarter of 2019. As for its strategic orientation, Norske Skog announced it had a «clear ambition to maintain its position within the publication paper market by launching new paper products in line with customer expectation. In addition, the company would pay strong attention to operational efficiency, capacity utilisation and customer satisfaction to ensure healthy margins. Norske Skog has a clear growth strategy in place, targeting further expansion into new revenue streams including bio-energy projects, bio chemical products and fibre products».