Gjensidige Forsikring in stock exchange fundraiser / News / The Foreigner

The Foreigner Gjensidige Forsikring in stock exchange fundraiser. Gjensidige Forsikring ASA, Norway’s largest privately owned life and pension insurer, has applied to be listed on the Oslo Stock Exchange (Oslo Børs). The company, owned and administered by Gjensidigestiftelsen (The Gjensidige Foundation) since June 2010, announces in a press release it is to offer no more than 40 percent of shares, making it one of the largest-ever Norwegian public offerings. Gjensidige’s Initial Public Offering (IPO) is the highest one on the Oslo Stock Exchange since Statoil listed on the Oslo Børs in 2001 and in line with other successful European offerings for the past several weeks, reports news agency Reuters.

gjensidige, insurance, intial, public, offering, oslo, stock, exchange, oslo, boers, shares, listings,



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Gjensidige Forsikring in stock exchange fundraiser

Published on Thursday, 28th October, 2010 at 10:44 under the news category, by Ramona Tancau.

Gjensidige Forsikring ASA, Norway’s largest privately owned life and pension insurer, has applied to be listed on the Oslo Stock Exchange (Oslo Børs).



The company, owned and administered by Gjensidigestiftelsen (The Gjensidige Foundation) since June 2010, announces in a press release it is to offer no more than 40 percent of shares, making it one of the largest-ever Norwegian public offerings.

Gjensidige’s Initial Public Offering (IPO) is the highest one on the Oslo Stock Exchange since Statoil listed on the Oslo Børs in 2001 and in line with other successful European offerings for the past several weeks, reports news agency Reuters.

Analysts estimate that Gjensidige now worth between 1.3 and 2 times more than its book value earlier this summer of 21.2 billion kroner ($3.60 billion).

This gives the company a total value of somewhere between 27.4 and 42.2 billion kroner, and the 40 percent IPO could raise up to an additional 16.88 billion kroner ($2.86 billion).

The company says it aims to be listed on Oslo Stock Exchange by the end of this year if market conditions remain satisfactory.




Published on Thursday, 28th October, 2010 at 10:44 under the news category, by Ramona Tancau.

This post has the following tags: gjensidige, insurance, intial, public, offering, oslo, stock, exchange, oslo, boers, shares, listings, .





  
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