9-13 September 2024
Join our events for the Norwegian financial community during our Euronext Sustainability week.
Click for more information and register.
Euronext Oslo Børs offers the only regulated markets for securities trading in Norway today and is world-leading in the energy, shipping and seafood sectors.
Euronext Oslo Børs joined the Euronext Group in June 2019, and companies listed on Euronext Oslo Børs now meet a larger investor audience, which means increased access to capital, liquidity and interest. More investors are also meeting through our efficient and secure trading, where our unique Single Order Book allow around 180 brokers to trade, clear and settle in a uniform way. Both investors and issuers will benefit from market-leading technology, increased innovation power and access to new tools and markets. At the same time, we will take care of the good and close relationship with all our customers - both in Norway and abroad.
Øivind Amundsen
CEO Euronext Oslo Børs and Member of the Managing Board of Euronext
Join our events for the Norwegian financial community during our Euronext Sustainability week.
Click for more information and register.
Euronext Oslo Børs stands out from the rest of the Nordic markets with many new share listings, and a cost-effective and speedy process for admission to listing. A company that has its shares listed on Euronext Oslo will find it quicker and easier to list other types of securities, such as bonds or short-term certificates. We offer issuers a simple and efficient bond listing process and a choice of listing venue. Euronext Oslo Børs also offers listing of ETPs (Exchange Traded Products), warrants and structured products.
Eirik Høiby Ausland
Head of Listing Norway
Members at Euronext Oslo Børs enjoy direct trading access to a large proportion of the world's financial instruments within the energy, shipping and seafood sectors. Member and trading rules for the Euronext Oslo Børs marketplaces meet European standards.
Ove Heiberg
Head of Secondary Market Norway
The Euronext Oslo Børs marketplaces enjoy a unique position for companies in the Energy, Shipping and Seafood sectors. Companies in these sectors turn to the Norwegian market to raise capital, access liquidity for their shares and benefit from a range of world-leading investment research coverage available in Oslo. Investors interested in these sectors look to the Oslo market for access to high-quality Norwegian and international companies.
Amsterdam, Brussels, Dublin, Lisbon, Milan, Oslo and Paris – 7 October 2024 – Euronext, the leading…
Europe
Amsterdam, Brussels, Copenhagen, Dublin, Lisbon, Milan, Oslo and Paris – 2 October 2024 – Euronext…
Europe
This significant milestone completes the migration of Euronext clearing business from LCH SA to…
Europe
Euronext Oslo Børs has a licence as a regulated market from the Norwegian Ministry of Finance pursuant to section 11.1 of the Norwegian Securities Trading Act and operates two such regulated markets. In addition, Euronext Oslo Børs operates one multilateral trading facility pursuant to section 9.8 of the Norwegian Securities Trading Act. Euronext Oslo Børs adopts rules for each of these markets to ensure fair and orderly trading and efficient order execution. In addition, Euronext Oslo Børs has been appointed as take-over supervisory authority pursuant to section 6.4 of the Norwegian Securities Trading Act.
Euronext Oslo Børs has also delegated authority to supervise compliance with and to sanction violations of the issuers’ obligation to disclose inside information pursuant to sections 5.2 and 5.3 of the Norwegian Securities Trading Act, cf. section 17.1 of the Norwegian Securities Trading Regulation.
The Norwegian Financial Supervisory Authority supervises regulated markets and multilateral trading facilities in Norway.
Circulars – archive
Consult our legal team to obtain older Circulars (history from 1998) legal@oslobors.no
The collections are only available in Norwegian, but some decisions and statements are in English.
Norwegian Version
Norwegian Version
Norwegian Version
English Version
English Version
Decisions and statements 2018.pdf
English Version
Circulars, decisions and statements 2017.pdf
English Version
Circulars, decisions and statements 2016.pdf
English Version
Circulars, decisions and statements 2015.pdf
English Version
Circulars, decisions and statements 2014.pdf
English Version
Circulars, decisions and statements 2013.pdf
English Version
Circulars, decisions and statements 2012.pdf
English Version
Circulars, decisions and statements 2011.pdf
English Version
Circulars, decisions and statements 2010.pdf
English Version
Decisions and statements 2009.pdf
English Version
Decisions and statements 2008.pdf
English Version
Decisions and statements 2007.pdf
English Version
Decisions and statements 2006.pdf
English Version
Decisions and statements 2005.pdf
English Version
Decisions and statements 2004.pdf
English Version
Decisions and statements 2003.pdf
English Version
Decisions and statements 2002.pdf
English Version
Decisions and statements 2001.pdf
English Version
Decisions and statements 2000.pdf
English Version
Decisions and statements 1999.pdf
English Version
Decisions and statements 1998.pdf
English Version
The Ministry of Finance has appointed a separat appeals commettee to settle appeals on resolutions made by the stock exchange. It has established regulations in the Securities Trading Regulations (chapter 12, part II) regarding due dates, the contents of an appeal, defence pleading and oral negotiation and about the composition of the appeal board as well as its acivity.
The Stock Exchange Appeals Committee settle appeals on resolutions made by the stock exchange. The resolutions are published on Oslo Børs' web page on behalf of the committee.
Please note that the resolutions are usually only in Norwegian.
Børsklagenemndens avgjørelse 2-2023 - Univid ASA
Norwegian Version
Børsklagenemndens avgjørelse 1-2023 - BW ENERGY LIMITED
Norwegian Version
Børsklagenemndens avgjørelse 2-2022 – AINMT ASA
Norwegian Version
Børsklagenemdens avgjørelse 1-2022 – NTS ASA
Norwegian Version
Børsklagenemndens avgjørelse 1-2019 - Belships ASA
Norwegian Version
Børsklagenemndens avgjørelse 2-2019 - BW LPG
Norwegian Version
Børsklagenemndens avgjørelse 1-2018 - EMAS Offshore Limited
English Version
Børsklagenemndens avgjørelse 1-2017 - RenoNorden
Norwegian Version
Børsklagenemndens avgjørelse 2-2016 - Siem Shipping
Norwegian Version
Børsklagenemndens avgjørelse 1-2016 - Sandnes Sparebank
Norwegian Version
Børsklagenemndens avgjørelse 3-2015 - SpareBank1 Østfold Akershus
Norwegian Version
Børsklagenemndens avgjørelse 2-2015 - EVRY ASA
Norwegian Version
Stock Exchange Appeals Committee - Case 1-2015- EVRY ASA
English Version
Børsklagenemndens avgjørelse 1-2014 - Transeuro Energy Corp
Norwegian Version
Børsklagenemndens avgjørelse 1-2013 - Intex Resources ASA
Norwegian Version
Børsklagenemndens avgjørelse 2-2013 - Intex Resources ASA saksomkostninger
Norwegian Version
Børsklagenemndens avgjørelse 3-2013 - IGE Resources AB
Norwegian Version
Børsklagenemndens avgjørelse 1-2012 - Cecon ASA
Norwegian Version
Børsklagenemndens avgjørelse 1-2011- Wilh. Wilhelmsen
Norwegian Version
Børsklagenemndens avgjørelse 4-2010 - Global IP Solutions
Norwegian Version
Norwegian Version
Børsklagenemndens avgjørelse 2-2010 - Rieber & Søn ASA
Norwegian Version
Børsklagenemndens avgjørelse 1-2010 - Telecomputing ASA
Norwegian Version
Børsklagenemndens avgjørelse 5/2009 - Norman ASA
Norwegian Version
Stock Exchange Appeals Committee - Case 4-2009 - DNO International ASA
English Version
Børsklagenemndens avgjørelse 3/2009: Namsos Trafikkselskap
Norwegian Version
Børsklagenemndens avgjørelse 2/2009: Dagens Næringsliv
Norwegian Version
Børsklagenemndens avgjørelse 1/2009: Gyldendal ASA
Norwegian Version
Euronext Growth Appeals Committee settles appeals against decisions to impose daily fines pursuant to Euronext Growth Rule Book Part II section 3.17.3, violation fees pursuant to section 3.17.4 and delisting pursuant to section 3.17.2. The Euronext Growth Appeals Committee shall also settle appeals from members and Euronext Growth Advisors against decisions pursuant to Euronext Growth Rule Book Part II section 4.6 and 5.6, respectively.
Mandate and procedure for the Euronext Growth Appeals Committee
Please note that the resolutions are usually only in Norwegian.
Merkur Market klagenemnd - Avgjørelse 1 - 2019 - Lavo.tv AS
Norwegian Version
Merkur Market klagenemd - Avgjorelse OXXY - Endelig versjon 2016-10-18
English Version
2024-09-10 - Gigante Salmon AS - Vedtak om ileggelse av overtredelsesgebyr
Norwegian Version
2024-07-25 - SAS AB - Conditional decision to delist the company's shares from trading
English Version
2024-07-12 - Public Property Invest ASA - Vedtak om dispensasjon fra tilbudsplikt
Norwegian Version
2024-07-12 Höegh Autoliners ASA - Vedtak om dispensasjon fra tilbudsplikt
English Version
Norwegian Version
2024-05-03 - BW Energy Holdings Limited - Vedtak om dispensasjon
Norwegian Version
Norwegian Version
20.12.23 - Univid ASA - Merknader til børsmeldinger og korrespondanse med Oslo Børs
Norwegian Version
2023-10-27- Univid ASA - Vedtak om strykning
Norwegian Version
2023-09-18 - SoftOx Solutions AS - Overtredelse av løpende informasjonsplikt
Norwegian Version
2023-08-24 - Univid ASA (tidl. DLTx ASA) - Kommentarer til selskapets løpende informasjonsplikt mv.
Norwegian Version
Norwegian Version
2023-06-14 - BW Group Ltd. - Vedtak - Søknad om dispensasjon fra tilbudsplikt
Norwegian Version
25.04.2023 - ALNG - Merknader til løpende forpliktelser
Norwegian Version
Norwegian Version
24-03-2023 - PROXI - Merknader til løpende informasjonsplikt
Norwegian Version
Norwegian Version
2023-01-12 - Endur ASA - Overtredelse av lopende informasjonsplikt
Norwegian Version
2022-12-13 - Belships ASA - Dispensasjon tilbudsplikt
Norwegian Version
English Version
2022-10-14 - Odfjell Drilling Ltd og Odfjell Technology Ltd - Dispensasjon tilbudsplikt
Norwegian Version
2022-09-26 - Höegh Autoliners ASA - Dispensasjon tilbudsplikt
Norwegian Version
20-05-2022 - AINMT ASA - Vedtaksbrev anmodning om tilbudsplikt
Norwegian Version
2022-05-04 Brev til SpareBank 1 Nordmøre.pdf
Norwegian Version
04-04-2022 Letter about written notifications
English Version
25-03-2022 - NTS ASA – Vedtaksbrev anmodning om konsolidering
Norwegian Version
04-02-22 - RAK Petroleum plc - Exemption from the mandatory offer obligation
English Version
2022-01-12 - Vedtak om dispensasjon fra tilbudsplikt i Solon Eiendom ASA
Norwegian Version
Polarcus Limited - Violation of Oslo Rule Book II - delisting of bonds from the Oslo Stock Exchange
English Version
Norwegian Version
2021-10-22 - Vedtak om dispensasjon fra tilbudsplikt i BEWi ASA og KMC Properties ASA
Norwegian Version
Norwegian Version
2021-06-22- DNB ASA - Brudd på varslingsplikt vedrørende utsatt offentliggjøring.pdf
Norwegian Version
2021-06-08 - Information letter regarding compliance with the issuer obligations under MAR
English Version
Norwegian Version
English Version
Norwegian Version
Norwegian Version
Norwegian Version
2021-01-29 Infront ASA - Request for guidance mandatory offer rules
English Version
2021-01-11 - Information letter to issuers regarding MAR.pdf
English Version
2020-12-11 – Quantafuel ASA – Brudd på løpende informasjonsplikt
Norwegian Version
2020-12-03 - Navamedic - Overtredelse av løpende informasjonsplikt og utsteders opplysningsplikt.pdf
Norwegian Version
2020-12-01 - Vedtak om dispensasjon fra tilbudsplikt i Siem Offshore Inc
Norwegian Version
2020-09-17 SoftOx Solutions - Overtredelse av løpende informasjonsplikt
Norwegian Version
2020-09-17 Lavo.tv AS - Beslutning om strykning
Norwegian Version
2020-07-08 Eidesvik Offshore ASA - Vedtaksbrev dispensasjonssøknad tilbudsplikt
Norwegian Version
2020-06-22 - G3 Exploration Limited - Delisting from Nordic ABM
English Version
2020-04-15 XXL ASA - Brev vedrørende notering av fortrinnsretter
Norwegian Version
2020-03-10 Gjentatt tilbudsplikt og etterfølgende erverv overgangsregel
Norwegian Version
2020-03-06 WR Entertainment ASA - Beslutning om strykning
Norwegian Version
2020-02-14 XXL ASA - Merknader til kapitalinnhenting
Norwegian Version
2020-02-06 Lavo.tv AS – Overtredelse plikten til å offentliggjøre års- og halvårsrapport.pdf
Norwegian Version
2019-10-15 - Norske Skog - Exemption from mandatory offer obligation Publication version.pdf
English Version
2019-09-18 BW LPG Limited - Begjæring om omgjøring av tidligere vedtak
Norwegian Version
2019-09-23 Siem Industries Inc. - Violation of disclosure obligations.pdf
English Version
2019-07-15 NEL ASA - Merknader til informasjonshåndtering
Norwegian Version
2019-06-17 Lavo.tv AS - Overtredelse av løpende informasjonsplikt
Norwegian Version
2019-07-10 - Sino Agro Food Inc - Delisting of shares from Merkur Market.pdf
English Version
2019-05-09 Element ASA - Overtredelse av løpende informasjonsplikt
Norwegian Version
2019-04-23 Norwegian Air Shuttle ASA – Kritikk for informasjonshåndtering
Norwegian Version
2019-01-22 Norwegian Air Shuttle ASA – Merknader til informasjonshåndtering
Norwegian Version
2019-01-18 Offentliggjøring av regnskapsinformasjon på egne nettsider
Norwegian Version
2018-12-21 Belships ASA - Vedtak vedrørende tilbudsplikt
Norwegian Version
2018-11-14 Wentworth Resources Plc - Delisting resolution.pdf
English Version
2018-11-02 Sino Agro Food Inc. – Violation of disclosure obligations.pdf
English Version
2018-10-30 Sequa Petroleum N.V. - Deregistration of bonds from Nordic ABM.pdf
English Version
2018-02-10 Konvertible lån med tegningsrettigheter Merkur Market
Norwegian Version
2018-09-28 Belships ASA - Vurdering av tilbudsplikt
Norwegian Version
2018-08-14 - Grieg Seafood ASA - Dispensasjon fra tilbudsplikt
Norwegian Version
2018-02-16 - EMAS - Delisting of shares from the Oslo Stock Exchange.pdf
English Version
2018-02-14 - Oceanteam ASA – Violation of disclosure obligations and other issuer rules.pdf
English Version
2018-01-26 Norwegian Air Shuttle ASA - Kritikk for brudd på informasjonsplikt
Norwegian Version
2017-12-29 Saga Tankers ASA - Dispensasjon fra tilbudsplikt
Norwegian Version
2017-12-01 Northern Drilling Ltd - Dispensasjon fra tilbudsplikt
Norwegian Version
2017-11-07 IEC - Delisting.pdf
English Version
2017-08-09 EVRY ASA - Dispensasjon fra tilbudsplikt
Norwegian Version
2017-07-05 SalMar ASA - Dispensasjon fra tilbudsplikt
Norwegian Version
2017-06-14 RenoNorden ASA - Overtredelse av løpende informasjonsplikt
Norwegian Version
2017-06-01 Island Offshore Shipholding L.P. - Overtredelse av ABM-reglene
Norwegian Version
2017-04-19 - Guidance relating to carrying out repair issues.pdf
English Version
2017-03-23 Island Offshore Shipholding L.P - Brudd på ABM-reglene om offentliggjøring av regnskap
Norwegian Version
English Version
2016-12-28 Wilson ASA - Dispensasjon fra tilbudsplikt
Norwegian Version
Norwegian Version
2016-11-16 REM Offshore ASA - Overtredelse av løpende forpliktelser pkt. 2.1 om likebehandling
Norwegian Version
2016-12-08 - Axis Offshore - Public Criticism.pdf
English Version
2016-11-03 Philly Shipyard ASA – Dispensasjon fra tilbudsplikt
Norwegian Version
2016-10-26 Nordea Markets - Manglende rapportering av obligasjonshandler
Norwegian Version
2016-10-14 Siem Shipping Inc - Resolution to delist the company's shares from Oslo Børs.pdf
English Version
2016-08-24 Sandnes Sparebank - Overtredelse av løpende informasjonsplikt
Norwegian Version
2016-08-17 - Oxxy Group PLC - Violation charge for breach of the Merkur Market rules.pdf
English Version
2016-07-08 REM Offshore ASA - Dispensasjon fra tilbudsplikt
Norwegian Version
2016-06-15 Uploading of inside information on company internet sites prior to publication
English Version
2016-03-03 Otium AS - Overtredelse av ABM-reglene
Norwegian Version
2015-09-23 Sparebank1 Østfold Akershus - Rettet emisjon - likebehandling
Norwegian Version
2015-09-15 Havfisk ASA og Ocean Yield ASA – Dispensasjon fra tilbudsplikt
Norwegian Version
English Version
2015-06-15 EVRY ASA – decision to refuse EVRY’s application for delisting from Oslo Børs
English Version
Norwegian Version
2015-04-13 Fred Olsen Energy ASA – Dispensasjon fra tilbudsplikt ved fusjon
Norwegian Version
2015-06-02 Frontline Ltd - Exemption from the Norwegian rules on take-over bids.pdf
English Version
2015-02-23 Knightsbridge Shipping - Exemption from the Norwegian rules on take-over bids.pdf
English Version
2014-09-17 Hexagon Composites ASA – Dispensasjon fra tilbudsplikt ved fisjon
Norwegian Version
English Version
2014-01-29 I.M. Skaugen SE - Dispensasjon fra tilbudsplikt ved fusjon
Norwegian Version
2013-11-25 Atlantic Petroleum.pdf
English Version
2013-08-29 IGE Resources AB - Overtredelse av løpende informasjonsplikt
Norwegian Version
2013-07-04 Northland Resources - Overtredelse av løpende informasjonsplikt
Norwegian Version
2013-05-13 DNO International ASA - Exemption from the mandatory offer obligation
English Version
2013-01-30 Intex Resources ASA - Breach of the duty to publicly disclose information
English Version
A continuation of the service “Information and news regarding Oslo Børs' rules and regulations” from oslobors.no.
See Regulation News
2024 - Statement regarding compliance with the Norwegian Transparency Act
English Version
2023 - Statement regarding compliance with the Norwegian Transparency Act
English Version
2 MAY 2024
Oslo Børs proposes to make clarifications of the rule on automatic admission to trading of new shares in the same share class as already admitted to trading (Oslo Rule Book Part II Section 4.2.5.5 second paragraph (Norwegian issuers) and Section 4.8.4.4 first paragraph (foreign issuers)). It is considered appropriate to make minor linguistic changes to the rule and to specify in the guidelines how this rule is currently practised.
Furthermore, Oslo Børs proposes to include a new obligation for issuers to inform Oslo Børs (Oslo Rule Book Part II Section 4.2.5.5 in a new third paragraph (Norwegian issuers) and Section 4.8.4.4 in a new second paragraph (foreign issuers)). The obligation will require issuers to provide information to Oslo Børs in connection with the issuance of new shares in the same class of shares as already admitted to trading on Oslo Børs or Euronext Expand. Oslo Børs, as a regulated market, shall have effective arrangements to ensure that issuers fulfil their obligations pursuant to Chapter 7 of the Norwegian Securities Trading Act relating to prospectus requirements, cf. the Norwegian Securities Trading Act Section 12-2 (3). The background for the rule is changes to the procedures and systems Oslo Børs will use for this.
The proposed amendments are further described in the consultation papers that are available under the topic “Consultations” on Oslo | euronext.com
Stakeholders are invited to submit comment on the proposed changes by 30 May 2024 at the latest to consultation@oslobors.no.
Contact persons
NewsPoint Market Administration department +47 22 34 19 45 |
Legal Kjell Vidjeland Head of Legal and Regulation +47 92 88 14 20 |
English Version
Appendix 1 - Oslo Rule Book II - Issuer Rules
English Version
Appendix 2 - Notice 4.2.5.5 (3)_4.8.4.4 (2) - Information reg. share issuances
English Version
Appendix 3 - Illustration NewsPoint
English Version
30 JUNE 2023
Oslo Børs propose to amend the rules regarding which accounting standards issuers may use when applying for their shares to be admitted to trading on Euronext Growth Oslo and as part of continuing obligations. According to current rules, issuers may use accounting principles that apply for SMEs, e.g. NRS 8 Norwegian generally accepted accounting principles for small companies. Target audience for financial statements prepared according to such standards are normally limited. As issuers admitted to trading on Euronext Growth Oslo are freely transferrable and the target audience thus should be assumed to be wider, we suggest that issuers no longer may use accounting principles for SMEs.
The proposed amendments are further described in the consultation paper below. Please find attached mark-up versions of the English language and Norwegian language Euronext Growth Oslo Rulebook Part II.
Stakeholders are invited to submit comment on the proposed changes by 11. August 2023 to listinginfo@euronext.com
Contact persons:
Eirik Høiby Ausland Phone: +47 906 06 301 |
Bodil C. Østby Phone: +47 416 38 389 |
Consultation - Euronext Growth Oslo - Accounting standards for admission to trading
English Version
Attachment - Euronext Growth - Oslo Rule Book Part II (accounting standards).
English Version
Høring - Regnskapsstandard som kan benyttes ved notering på Euronext Growth Oslo
Norwegian Version
Vedlegg - Euronext Growth Oslo Regelbok - Del II - regnskapsstandarder som kan benyttes
Norwegian Version
14 FEBRUARY 2022
The purpose of this consultation is to present the amended rules in Euronext Growth Oslo Rulebook Part II, and to provide all stakeholders with an opportunity to provide feedback on the changes. The main and material amendments relate to Euronext Growth Advisors. Oslo Børs has also conducted a complete review of the Euronext Growth Oslo Rule Book Part II in relation to definitions, language, references and clarification of ambiguities. Furthermore, a new notice 2.3 is proposed, which contains more extensive guidance on the information to be included in the information document in connection with admission to trading.
The proposed amendments are further described in the consultation paper below. Mark-up versions of the Norwegian language and English language Euronext Growth Oslo Rulebook Part II and notice 2.2, and the new notice 2.3, are also attached below.
Stakeholders are invited to comment on the proposed changes by 1 March 2022 to consultation@oslobors.no .
Contact persons:
Eirik Høiby Ausland Head of Listing Nordics, EVP Primary Market +47 90 60 63 01 |
Kjell Vidjeland Head of Legal and Regulation +47 92 88 14 20 |
Consultation - regulations for Euronext Growth Oslo
English Version
Høring - reglene for Euronext Growth Oslo
Norwegian Version
Vedlegg 1A - Euronext Growth Oslo Regelbok - Del II
English Version
Vedlegg 1B - Euronext Growth Oslo Rule Book - Part II
English Version
Vedlegg 2A - Notis 2.2 - Prosedyrer for opptak til handel av Aksjer - april 2022
English Version
Vedlegg 2B - Notice 2.2 - Procedures for admission to trading of Shares - April 2022
English Version
Vedlegg 3 - Notice 2.3 - Content requriements and checklist for Information Document
English Version
1 FEBRUARY 2022
The purpose of this consultation is to present the new regulations governing the Membership and Trading Rules regarding clearing of subscription rights on Oslo Børs, Euronext Expand and Euronext Growth Oslo, and to offer our members an opportunity to provide feedback on the changes.
The proposed amendments are further described in the consultation paper below.
Members and other stakeholders are invited to comment on the proposed changes by 14 February 2022 to consultation@oslobors.no .
Contact persons:
Torbjørn Vik |
Tiril Flatmo Janbu |
Consultation - Clearing of subscription rights
English Version
7 JUN 2021
The purpose of this consultation is to present the new regulations that will govern the Trading Rules regarding clearing and settlement arrangements on Euronext Growth, and to offer our members an opportunity to provide feedback on the changes.
The proposed changes are further described in the consultation paper below.
Members and other stakeholders are invited to comment on the proposed changes by 14 June 2021 to consultation@oslobors.no.
Contact persons:
Pernille Woxen Burum |
Torbjørn Vik |
Consultation - Clearing and settlement arrangements on Euronext Growth
English Version
Consultation - Euronext Growth - EN - Oslo Rule Book Part II (Clearing and settlement arrangements)
English Version
On 27 November 2020, the Government of Norway resolved that the bill to implement EU’s regulation on market abuse (MAR) shall enter into force on 1 March 2021. This will imply certain amendments to the rules for issuers on Oslo Børs, Euronext Expand and Euronext Growth Oslo.
The proposed amendments are further set out in the Consultation letter below. Issuers and other stakeholders are invited to comment on the proposed changes by 15 February 2021 to consultation@oslobors.no.
Contact persons
Pernille Woxen Burum |
Thomas Borchgrevink |
Consultation issuer rules MAR – shares and equity certificates on Oslo Børs and Euronext Expand
English Version
Consultation issuer rules MAR – bonds on Oslo Børs
English Version
Consultation issuer rules MAR – ETFs on Oslo Børs
English Version
Consultation issuer rules MAR – shares and equity certificates on Euronext Growth Oslo
English Version
09/10/2020
Following the acquisition of Oslo Børs by Euronext in June 2019, and as communicated previously, trading on Oslo Børs and Oslo Axess will migrate onto the Euronext trading platform Optiq on 9 November 2020 for equities and on 30 November 2020 for derivatives and fixed income.
As part of the acquisition by Euronext, the issuers of exchange traded funds (ETF) at Oslo Børs will become part of the Rule Book regime in Euronext. This involves more harmonization with Euronext’s Issuer Rules, both in terms of structure and content.
The proposed amendments are further set out in the Consultation letter below.
Issuers and other stakeholders are invited to comment on the proposed changes by 23 October 2020 to consultation@oslobors.no.
Contact persons
Listing rules |
Continuing Obligations |
Consultation - Issuer Rules for ETFs - Oslo Børs
English Version
Appendix 1A - Rule Book I - English
English Version
Appendix 1B - Rule Book II - Chapter 2 and 5
English Version
05/10/2020
Following the acquisition of Oslo Børs by Euronext in June 2019, reporting of trades in bonds registered on Nordic ABM will migrate onto the Euronext trade reporting platform Saturn on 30 November 2020.
There will not be made substantial amendments to the ABM-rules as a consequence of the migration, but there are a few proposed amendments due to equivalent changes being made to the rules for issuers with bonds listed on Oslo Børs. The amendments will enter into force from 30 November 2020.
The proposed amendments are further set out in the Consultation letter below.
Issuers and other stakeholders are invited to comment on the proposed changes by 20 October 2020 to consultation@oslobors.no.
Contact persons
Pernille Woxen Burum |
Per Gunnar Ølstad |
Consultation - Issuer Rules - Nordic ABM
English Version
14/09/2020
The purpose of this consultation is to present the new regulation that will govern the Trading Rules on Merkur Market after the migration to Optiq, and to offer our members an opportunity to provide feedback on the changes.
Following the acquisition of Oslo Børs by Euronext in June 2019, and as previously communicated, trading on Merkur Market will migrate onto the Euronext trading platform Optiq on 9 November 2020, simultaneously as the migration of trading with equity securities on Oslo Børs and Oslo Axess.
Members and other stakeholders are invited to comment on the proposed changes by 5 October 2020 to consultation@oslobors.no.
Contact persons
Pernille Woxen Burum |
Torbjørn Vik |
Consultation Trading Rules - Merkur Market
English Version
Appendix 1 - Harmonized Rule Book I - English
English Version
Appendix 2 - Euronext Growth Rule Book
English Version
English Version
14/09/2020
Following the acquisition of Oslo Børs by Euronext in June 2019, and as previously communicated, trading on Merkur Market will migrate onto the Euronext trading platform Optiq on 9 November 2020, simultaneously as the migration of trading with equity securities on Oslo Børs and Oslo Axess.
As part of the acquisition by Euronext, the issuers of shares on Merkur Market will become part of the Rule Book regime in Euronext (Euronext Growth Markets Rule Book). This involves more harmonisation with Euronext’s issuer rules, both in terms of structure and content. Furthermore, Merkur Market will as part of the harmonisation process be renamed to Euronext Growth, operated by Oslo Børs as one of several Euronext Growth Markets under Euronext.
The proposed amendments are further set out in the Consultation letter below.
Issuers and other stakeholders are invited to comment on the proposed changes by 5 October 2020 to consultation@oslobors.no.
Contact persons
Admission to trading rules |
Ongoing obligations |
Consultation - Issuer Rules on Merkur Market
English Version
Appendix 1A - Euronext Growth Rule Book - English version
English Version
Appendix 1B - Euronext Growth Rule Book - Chapter 1, 3 and 4 - Norwegian version
Norwegian Version
07/07/2020
Following the acquisition of Oslo Børs by Euronext in June 2019, and as communicated previously, trading on Oslo Børs and Oslo Axess will migrate onto the Euronext trading platform Optiq on 9 November 2020 for equities and on 30 November 2020 for derivatives and fixed income.
As part of the acquisition by Euronext, the issuers of Shares and bonds on Oslo Børs and Oslo Axess will become part of the Rule Book regime in Euronext. This involves more harmonization with Euronext’s Issuer Rules, both in terms of structure and content. Furthermore, Oslo Axess will as part of the harmonization process be renamed to Euronext Expand. The Issuer Rules for Shares will continue to apply for Issuers of Shares, Equity Certificates, Depository Receipts and other Financial Instruments with characteristics similar to Shares to the extent appropriate.
The proposed amendments are further set out in the Consulation letter below.
Issuers and other stakeholders are invited to comment on the proposed changes by 31 August 2020 to consultation@oslobors.no.
Contact persons
Listing rules for share issuers
Linn Cathrin Slettedal
Senior Manager, Primary Market
lcs@oslobors.no
+47 95 75 69 83
Listing rules for bond issuers
Liv I. Grønlien
Senior Manager, Primary Market
lg@oslobors.no
+47 99 27 92 91
English Version
Appendix 1A - Rule Book I - English
English Version
Appendix 2 - Oslo Rule Book II - English
English Version
06/07/2020
The purpose of this consultation is to present the new regulation that will govern Nordic ABM Member and Trade Reporting Rules after the migration to Saturn, and to offer our members an opportunity to provide feedback on the changes.
Following the acquisition of Oslo Børs by Euronext in June 2019, and as communicated previously, reporting of trades in bonds registered on Nordic ABM will migrate onto the Euronext trade reporting platform Saturn on 30 November 2020.
Members and other stakeholders are invited to comment on the proposed changes by 31 August 2020 to:
Pernille Woxen Burum
Attorney – Market Surveillance
pwb@oslobors.no
+47 22 34 17 49
Other contact persons
Bodil Østby
Head of Fixed Income
bodil.ostby@oslobors.no
+47 41 63 83 89
Consultation - Nordic ABM Member and trade reporting rules
English Version
Nordic ABM Member and Trade Reporting Rules
English Version
10/06/2020
The purpose of this consultation is to present the new regulation that will govern Member and Trading Rules after the migration to Optiq, and to offer our members an opportunity to provide feedback on the changes.
Following the acquisition of Oslo Børs by Euronext in June 2019, and as communicated previously, trading on Oslo Børs and Oslo Axess will migrate onto the Euronext trading platform Optiq on 9 November 2020 for equities and on 30 November 2020 for derivatives and fixed income.
Members and other stakeholders are invited to comment on the proposed changes by 10 July 2020 to:
Pernille Woxen Burum
Attorney – Market Surveillance
pwb@oslobors.no
+47 22 34 17 49
Other contact persons
Torbjørn Vik
Head of Equities & Head of Client Relations
tv@oslobors.no
+ 47 99 69 18 91
Bodil Østby
Head of Fixed Income
bodil.ostby@oslobors.no
+47 41 63 83 89
Consultation - Member and Trading Rules
English Version
Appendix 1- Euronext Rule Book I
English Version
Appendix II - Oslo Rule Book II - Member and Trading Rules
English Version
English Version
19/05/2020
Following the acquisition of Oslo Børs by Euronext in June 2019, and as communicated previously, the Oslo Børs Derivatives Market will migrate onto the Euronext trading platform Optiq on 30 November 2020. The migration will also include a change of Derivatives CCP from SIX x-clear AG to LCH SA.
The purpose of this consultation is to present the new regulation that will govern derivatives trading and products after the migration to Optiq, and to offer our members an opportunity to provide feedback on the changes.
The attached document will:
In no circumstance should this consultation be considered an exhaustive list of changes, or a complete representation of the Euronext regulatory framework.
Subject to the successful migration of the Oslo Børs Derivatives Market to Optiq, the Euronext regulation will enter into force for Oslo Børs Derivatives on and from 30 November 2020.
Members and other stakeholders are invited to comment on the proposed changes by 15 June 2020 to:
Anders Holen
Head of Trading – Derivatives
anders.holen@oslobors.no
+47 22 34 17 62
Kjell Vidjeland
Head of Legal
kjell.vidjeland@oslobors.no
+47 22 34 17 27
Consultation - Derivatives Rules
English Version
The current version of the Norwegian Code of Practice for Corporate Governance from 14 October 2021 is available here. https://nues.no/eierstyring-og-selskapsledelse-engelsk/
In its role as an operator of securities marketplaces, Oslo Børs plays a central role in helping to ensure good corporate governance among the companies listed on Oslo Børs and Euronext Expand.
Oslo Børs wishes to contribute, through the Oslo Børs Code of Practice for IR (the Code of Practice for IR), to maintaining high standards of quality in the information provided by listed companies. Relevant, accessible and up-to-date information generates interest and confidence – and is essential for liquidity.
The Code of Practice for IR has been prepared for companies that have shares listed on Oslo Børs or Euronext Expand. It also applies insofar as it is relevant to companies that have equity certificates listed on Oslo Børs, and may also be an appropriate source of guidance for companies admitted to trading on Euronext Growth (operated by Oslo Børs). The Code of Practice for IR has been prepared by Oslo Børs in collaboration with the Norwegian Investor Relations Association (NIRA), and is based on the NIRA’s and Oslo Børs’ joint views on best practice for reporting financial and other IR information.
Listed companies must comply with a number of laws and regulations, and it is important that IR personnel are aware of the relevant provisions. Several of the themes addressed by this Code of Practice for IR are governed by detailed laws and regulations. We would like to emphasise that the Code of Practice for IR does not replace these. In some areas the Code of Practice for IR is more comprehensive than the regulatory framework.
Oslo Børs´ intention is to revise the Code of Practice for IR on a regular basis.
For listed companies wishing to highlight compliance with the Code of Practice, the following wording is proposed on the company’s website:
“We comply with the Oslo Børs Code of Practice for IR of 1 March 2021”
Compliance with the Code of Practice will be based on a «comply or explain» principle. Any deviations from the Code of Practice shall be explained on the company’s website, as further described in section 3.1.
The Oslo Børs Code of Practice for IR
English Version
A large portion of the companies listed on Oslo Børs are foreign, and the proportion of foreign shareholders in many of the listed companies is high. It can be challenging for investors and other market participants to locate and digest the information they need about legal provisions that are relevant to trading in listed companies. Oslo Børs therefore recommends that companies listed on Oslo Børs or Oslo Axess post information on their website about the rules that apply in relation to the company in respect of the matters outlined below.
Norwegian companies
Oslo Børs has prepared an example of such a presentation for Norwegian listed companies, which will be updated on an ongoing basis in the event of changes in relevant legislation. Companies wishing to make use of this example should consider whether there are any additional company-specific matters that should be addressed, for example relevant provisions in the articles of association or sector-specific legislation.
See Key legal information
Foreign companies
Foreign companies listed on Oslo Børs or Oslo Axess that choose to make such information available on their websites must prepare corresponding presentations themselves, based on the relevant rules applicable in relation to the company. Companies may in this regard refer to the Norwegian example for guidance on scope and level of detail.
English Version
Below is an overview of listed companies. Oslo Børs is providing this list as an aid and guidance for the market participants.
The list includes the following information:
Download Listed companies' home state - Noterte selskapers hjemstat
Oslo Børs is not undertaking any responsibility to whether the list contains full and correct information about every company. The content of this list has been checked by Oslo Børs prior to publication, but Oslo Børs will not be liable for any financial damages as a consequence of any errors or omissions in this list. Oslo Børs will aim to keep the list updated, but does not have any obligation at every point of time to keep the list updated with full and correct information for each company.
The list should not be considered as Oslo Børs' decision about the relevant circumstances.The list has not been updated with companies that have applied for listing on Oslo Børs/Oslo Axess, but which have not yet been listed.The information on this list is subject to change without notice.
It should be noted that the list of listed companies' home state does not provide information on where the companies are resident for tax purposes.
The exchange and securities market is governed by a number of laws and regulations passed by public authorities. To facilitate efforts to locate the relevant legal provisions, we have compiled links to important laws and regulations within the stock exchange and securities area. Here you will also find circulars, decisions from Oslo Børs and the appeal board, and other relevant material.
The purpose of the Securities Trading Act is to lay the basis for secure, orderly and efficient trading in financial instruments. The Act contains general rules of conduct, such as:
Section 3-2 Definition of inside information
Section 3-3 Misuse of inside information
Section 3-8 Market manipulation
Section 3-14 Sales of financial instruments not owned by the seller
The Act also contains important provisions related to listed companies' obligations, such as duty of disclosure and equal treatment of shareholders:
Section 5-2 Content of the information requirement
Section 5-14. Equal treatment
Some investors also have notification requirements:
Section 4-2 Notification requirement for primary insiders
Section 4-3 Duty of confidentiality and due care in handling inside information
Rule Books:
The issuer rules are available as PDFs in our Regulation section
In the Treaty of the European Economic Area Norway is obliged to implement all EU-regulation for the financial sector and have its regulation in complience with EU-standards as if the country was an EU-member itself. Directives, regulations and recommendations etc may therefore be a source to interpret and understand Norwegian regulations. Drafts and regulations in the pipeline may give indications to expected amendments in the Norwegian markets.
Directives are given an official translation to Norwegian prior to implementation, while other material may be in all EU-languages or only English.
The Prospectus Directive (2003/71/EC)
Commission Regulation (2004/809/EC) implementing the Prospectus Directive
Commission Regulation (2006/1787/EC) amending Commission Regulation (2004/809/EC)
Commission Regulation (2007/211/EC) amending Commission Regulation (2004/809/EC)
Commission Regulation (2002/1606/EC) regarding IAS
Evaluation of IAS Regulation (2015)
Commission Decision (2006/891/EC)
The Admission Directive (2001/34/EC)
The MiFID Directive (2004/39/EC)
Commission Regulation (2006/1287/EC) implementing the MiFID Directive
Commission Directive (2003/124/EC) implementing the MAD Directive
Commission Directive (2003/125/EC) implementing the MAD Directive
News from listed companies on the Euronext Oslo Børs marketplaces are displayed on the NewsWeb website and is updated immediately, 24/7.
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