The Norwegian state, represented by the Norwegian Ministry of Trade, Industry and Fisheries, has sold half of its stake in offshore engineering firm Aker Solutions through a private placement for NOK905.5m ($86.5m).
The state sold 30.09m shares, corresponding to a 6.11% stake in Aker Solutions, at NOK39.30 per share, a discount of some 10.6% compared to the share price at closing time on the Oslo Stock Exchange on Wednesday.
It has also entered into a so-called lock-up agreement not to sell the remaining shares, including any shares that are not sold in this round, for the next 90 days.
Kjell Inge Røkke-controlled Aker Holdings is the largest owner of Aker Solutions, holding just over 39% of the shares in the company. The value of Aker Solutions’ shares increased by close to 90% this year.
Pareto Securities and SpareBank 1 Markets acted as joint lead managers and joint bookrunners in connection with the offering.
