Borregaard listed on the OSE
(18.10.12)Borregaard ASA was listed on the Oslo Stock Exchange Thursday 18 October 2012.
When president and CEO Per A. Sørlie rang the opening bell at the Oslo Stock Exchange Borregaard had 8.600 shareholders. Based on the introduction price of 21 NOK Borregaard has a market cap of NOK 2,1 billion and an enterprise value of NOK 3,1 billion.
"Borregaard has a unique business model and we believe that a listing on the Oslo Stock Exchange is a good ownership model for us. A listing provides an increased opportunity to promote our advanced biorefinery business model with production of green chemicals from wood, as well as our extensive activity within research and development" says Per A. Sørlie, President and CEO of Borregaard.
After the IPO Orkla will own between 7 and 19 per cent of Borregaard, depending on to how the over-allotment option is exercised.