Var Energi Says Offering Is Multiple Times Oversubscribed Ahead of Oslo Listing
February 15 2022 - 1:33AM
Dow Jones News
By Dominic Chopping
STOCKHOLM--Norwegian oil-and-gas company Var Energi AS said late
Monday that its initial public offering, including the
overallotment option and the upsize option, is multiple times
oversubscribed at the offer price of 28 Norwegian kroner ($3.15) a
share.
The offering consists of up to 220 million existing shares
offered in equal parts by the company's shareholders Eni Spa and
HitecVision AS. In addition, the shareholders have an option to
sell in equal parts up to 55 million additional existing shares
through an upsize option and the joint global coordinators may
overallot up to 41.25 million additional shares.
Eni Spa and HitecVision AS have resolved that the upsize option
will be utilized in full, it added.
Var Energi earlier Monday priced its initial public offering at
NOK28 a share, the bottom of the indicative range, valuing the
company at NOK70 billion ahead of its planned listing on the Oslo
Stock Exchange on Wednesday.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
February 15, 2022 02:18 ET (07:18 GMT)
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