51st listing on Euronext and fifth listing of the year on Oslo Børs' markets
Market capitalisation of approximately NOK 80 million
Oslo – 29 September, 2023 – Oslo Børs, part of the Euronext Group, today congratulates Matvareexpressen on its listing on Euronext Growth Oslo (ticker: MVE).
Matvareexpressen is a Norwegian online grocery wholesaler. The company delivers to corporate customers situated in the Norwegian counties of Vestland, Rogaland and Agder. In 2023 it also expanded its services to eastern Norway. The company was founded in 2007 and is headquartered in Haugesund.
Matvareexpressen represents the third admission in 2023 on the Oslo Børs market dedicated to small and medium-sized companies and it brings the total number of companies currently listed on Euronext Growth Oslo to 109. In total, this is the fifth listing so far this year on Oslo Børs' markets and the 51st on Euronext.
Last year, Matvareexpressen raised NOK 30 million. Following today’s listing, the share price at opening was NOK 65 per share. This corresponds to an estimated market capitalisation of NOK 80 million.
Fredrik Engen, CEO of Matvareexpressen, said: “We are pleased to fulfil our long-term ambition of being listed on Oslo Børs. Looking forward, we have set ambitious growth targets. Our experienced and skilled employees are committed to keep our existing and future customers satisfied. Positive cash flow, a solid balance sheet combined with a cost-efficient platform support attractive return to our shareholders over time.”
Caption: Svein Milford, Chairman of the Board at Matvareexpressen, rang the bell this morning to celebrate the company’s admission on Euronext Growth Oslo together with Fredrik Engen, CEO and the rest of the team. They were welcomed by Øivind Amundsen, CEO at Oslo Børs, and Eirik Høiby Ausland, Head of Listing (Photo: Thomas Brun/ NTB).
About Matvareexpressen AS
Matvareexpressen AS is an innovative supplier of groceries and large household products. It focuses on internet-based trade for professional customers. Matvareexpressen offers a one-stop shop for its customers. This reduces the environmental footprint and has a positive influence on the local communities it operates in. At the same time, this gives the company a competitive advantage and opportunities for profitable and scalable growth. The company has its head office in Haugesund, and has warehouses in Stavanger, Bergen, Kristiansand and Oslo.