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Vår Energi lists on Oslo Børs, part of Euronext Group

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  • 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.

Download press release - Vår Energi

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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 more than 1,900 listed issuers and around €7.1 trillion in market capitalisation as of end March 2024, 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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