EuropeFinance and InsuranceOffshore

Norway offloads half of its stake in Aker Solutions

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.

Adis Ajdin

Adis is an experienced news reporter with a background in finance, media and education. He has written across the spectrum of offshore energy and ocean industries for many years and is a member of International Federation of Journalists. Previously he had written for Navingo media group titles including Offshore Energy, Subsea World News and Marine Energy.
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