Norwegian engineering consultancy, Norconsult, has revealed plans for an initial public offering (IPO). The company, which is owned by 3,700 employees and was established in 1929, aims to offer approximately 25% of its shares. In addition, large shareholders are intending to sell 35% of their shares. The company also expects an over-allotment option of up to 15% of the initial shares.
Operating from 130 offices across Nordic countries and Poland, Norconsult reported NOK7.5 billion ($685.1 million) in net revenue and NOK741 million in Ebita in 2022, reflecting a 9.9% adjusted Ebita margin. The IPO is intended to foster future growth, development, and strategic opportunities for the company.
The commencement of trading on Oslo Bors is anticipated in November, subject to approvals from Oslo Bors and the Norwegian Financial Supervisory Authority, along with favorable equity capital market conditions.
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