This page is available in multiple languages
Select Language

Vår Energi lists on Oslo Børs, part of Euronext Group

Back

  • Sold shares for a total of NOK 7.7 billion to 19,000 investors
  • The third largest listing on Oslo Børs with market capitalisation of NOK 70 billion
  • The first listing on Oslo Børs Main Market in 2022, and the 10th on Euronext markets

 

 

Oslo – 16 February 2022 – Oslo Børs, part of the Euronext Group, today congratulates Vår Energi on its listing on Oslo Børs (ticker: VAR). This is the third largest listing on Oslo Børs through time measured in market capitalisation on the day of listing. In addition, it is the first listing on our main market this year, and the 10th listing on Euronext markets.

Vår Energi is an oil and gas operator formed in 2018 following the merger of Eni Norge and Point Resources. The company is one of the largest independent upstream oil and gas companies operating on the Norwegian continental shelf, with more than 50 years of experience and a diversified portfolio.

A total of 275 million shares were sold in the offering for a total of NOK 7.7 billion, excluding the overallotment/ greenshoe option of 41,25 million shares. The IPO price was set at NOK 28 per share, corresponding to a total estimated value of the company of NOK 70 billion.

Torger Rød, CEO of Vår Energi said: “Our IPO is a natural next step for Vår Energi in realizing our full potential as a leading oil and gas company on the attractive Norwegian continental shelf. With our experienced and talented employees and robust and diversified asset portfolio, we are committed to deliver a better future and significant values to our stakeholders in the years to come. We have set ambitious growth targets and our cash flow and solid balance sheet support attractive, resilient distributions to our shareholders.”

 

The bell ceremony video is available here: https://youtu.be/dwR_NlfOhWQ

 

About Vår Energi ASA

Vår Energi is a leading independent upstream oil and gas company on the Norwegian continental shelf (NCS). The company is committed to deliver a better future through responsible value driven growth based on over 50 years of NCS operations, a robust and diversified asset portfolio with ongoing development projects, and a strong exploration track record. Their ambition is to be the safest operator on the NCS, the partner of choice, an ESG leader and a net-zero producer (Scope 1 and 2) by 2030.  

Vår Energi has more than 900 employees and equity stakes in 36 fields producing net 247,000 boe per day in the third quarter of 2021. The company  has their headquarters outside Stavanger, Norway, with offices in Oslo and Hammerfest. To learn more, please visit varenergi.no.

Press Release Footer

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.  
For the latest news, follow us on Twitter (twitter.com/euronext) and LinkedIn (linkedin.com/euronext).

Disclaimer
This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.

This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located at www.euronext.com/terms-use.

© 2022, Euronext N.V. - All rights reserved.