Euronext Growth Oslo has been appointed as an ‘appointed stock exchange’ for the purposes of the Companies Act. The order making the appointment was signed by the Minister of Finance on 7 September 2021. The appointment will serve to benefit Bermuda companies looking to raise capital in the Norwegian capital markets.
Euronext Growth Oslo was established in January 2016 under the name Merkur Market, and is operated by Oslo Børs. Euronext Growth Oslo is a multilateral trading facility primarily intended for small and mid-cap growth companies to reach a wide range of investors. Oslo Børs also operates the Oslo Stock Exchange and the Euronext Expand (formerly known as Oslo Axess) which are both also ‘appointed stock exchanges’ under the Companies Act.
As of April 2021 there were 19 Bermuda companies listed on the Oslo Stock Exchange and Euronext Expand, representing a market capitalization of more than US$10 billion. Following the appointment of Euronext Growth Oslo Bermuda, companies will also be able to utilise listing on the fast-growing exchange in order to access the Norwegian capital markets. The appointment of Euronext Growth Oslo is expected to be especially welcome news for shipping holding companies incorporated in Bermuda as Oslo is the largest securities marketplace for shipping in Europe and the second largest globally. Oslo is also the second largest market in Europe for energy companies and second largest market globally for companies in the oil service sector.
To continue reading full articles in PDF format:
Euronext Growth Oslo Appointed as an ‘Appointed Stock Exchange’ in Bermuda