Rana Gruber transfers to the main market at Oslo Børs

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  • The third transfer on Oslo Børs in 2022
  • Market capitalisation of approximately NOK 2.35 billion

 

Oslo – 28 March 2022 – Oslo Børs, part of the Euronext Group, today congratulates iron ore producer and supplier, Rana Gruber, on its transfer from Euronext Growth Oslo to the main market (ticker: RANA). This is the third transfer on Oslo Børs so far in 2022, bringing the  total number of companies on the main market to 209.

Rana Gruber has more than 200 years of mining experience and has its own mines with iron ore deposits. The mines are located outside of Mo i Rana in Norway, and the company has a production capacity of 1.8 million tons of iron ore concentrates and specialty products.

At opening, the share price was set at NOK 63 per share. This corresponds to a total estimated value of the company of approximately NOK 2.35 billion.

Gunnar Moe, CEO of Rana Gruber, said: “The listing of Rana Gruber at Oslo Børs’ main list marks an important milestone for our company, but also for the entire business community in Northern Norway. Hopefully, this inspires also other businesses to dare to think big. We have more than 200 years of experience from mineral extraction, large reserves of iron ore, and an ambition to become the first carbon free iron ore producer in the world by the end of 2025. Being listed on the main list, we gain access to a deeper and global capital base, in addition to providing broader access to an investment in Norway’s only iron ore producer.”

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About Euronext 
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With close to 2,000 listed issuers and around €5.8 trillion in market capitalisation as of end June 2022, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.  
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