In a landmark event for the Nordic consulting sector, Norconsult ASA, renowned for its engineering, architecture, and community planning services, made its debut on the Oslo Børs main market today. The firm's CEO, Egil Hogna, hailed the listing as a pivotal moment in Norconsult's history, which spans nearly a century. The move is aimed at bolstering employee ownership and fostering growth opportunities.
With a workforce of approximately 6,000 employees and operations across more than 130 offices in six countries, Norconsult emphasizes talent development to maintain its leading position in Norway and to expand its footprint in Denmark and Sweden. The company has laid out a strategy that focuses on retaining talent while achieving profitable growth in various sectors including infrastructure, energy, industry, buildings, and architecture.
The initial share price was set at NOK 19 per share, giving the company a market capitalisation of NOK 5.9 billion. This valuation was later adjusted to NOK 5.7 billion. The public offering attracted significant interest from high-caliber investors such as notable Norwegian institutions and select top-tier Nordic and international investors. The IPO saw participation from around 2,300 employees and over 3,300 retail investors, resulting in a substantial broadening of Norconsult's shareholder base.
Chairman Nils Morten Huseby views the listing as an opportunity to explore strategic alternatives that require financial agility while keeping employee interests at the forefront. This listing is not only the seventh but also the largest on the Oslo Børs markets in 2023 and marks the 55th on Euronext this year.
The company celebrated this milestone with a bell-ringing ceremony at the exchange, attended by more than 100 employees, symbolizing Norconsult's commitment to growth through strong employee engagement and strategic market presence.
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