We are pleased to advise OSE-listed Norse Atlantic ASA ("Norse Atlantic") in connection with a successful private placement raising gross proceeds of approximately MNOK 114.
As of 1 April 2025, the Financial Supervisory Authority of Norway (the Norwegian FSA) is the competent authority for the Norwegian take-over regime and the supervisory authority for the ongoing disclosure obligation and delayed disclosure of inside information and supervision of share-buy-backs and stabilisation under the Market Abuse Regulation (MAR), taking over from Euronext Oslo Børs.
Norwegian Depositary Receipts ("NDRs") have been available as financial instruments in Norway since 2020. NDRs are a cost efficient and practical alternative to shares for accessing the Norwegian equity market.
The European Commission has put forward a proposed legislative package called the "Listing Act". The purpose of the Listing Act is inter alia to simplify listing on European public markets, and alleviate the requirements for companies once listed. The Listing Act was voted through by the European Parliament in April 2024 and will eventually be implemented in Norway.
We have had the pleasure of assisting NORBIT ASA (OSE: "NORBT") on its successfully completed private placement of new ordinary shares, raising gross proceeds of approximately NOK 200 million.
With effect from 4 July 2024, a new reporting obligation related to compliance with prospectus requirements is imposed on companies listed on Oslo Børs' regulated markets (Euronext Oslo Børs and Euronext Expand). Furthermore, Oslo Børs guides on the practical handling of the obligation to prevent trading in new shares before any conditions for trading are met.
