Wednesday , May 12 2021

Bank Norwegian shareholder is considering a significant reduction in the number of employees – Bank Norway – stock market and finance



Arctic Securities was hired by the investor to consider the possibility of selling 7.8 million shares of Norvegian Finans Holding, better known as Bank Norvegian.

This is reflected in a stock exchange announcement on Wednesday afternoon.

Based on Wednesday's stock for action, this will include sales for a total of NOK 570.96 million, but the amount will vary depending on the price you can achieve.

The share price is about 4.2 percent of all shares in the company.

It does not look like a stockholder. However, there are not many alternatives because it is only Norwegian (airline), Folketrigdfondet and Fortelus hedge fund, which has so many stocks in the banks of Norway. The latter proposed a dual list of actions in London, which must be voted at the annual assembly meeting in December.

– We do not know that. We have not sold NOFI shares, says communications manager Lasse Sandaker-Nielsen in a Norwegian (airline) company on the issue of whether they are now selling the shares.

An accelerated book-building process will be launched, which will begin immediately, and ends until tomorrow (November 15th) by noon until 8:00 am.

Seller will not sell for at least three months

In the sales offer issued by Arctic Securities, it appears that the "financial investor" who is considering the sale of shares has accepted the so-called conclusion on the remaining shares, which means that you will sit on the remaining shares at least three months after this sale.

Basically, we have to subscribe to stocks of at least 100,000 euros (961,000 kroons), and the offer is intended for both professional and unprofessional investors.

The brokerage house points to a sales offer that the Norvegian has almost doubled over the past two years, and bookkeeping capital has increased by 140 percent in one year, and the stock price in the same period was 23 percent lower.

– A very interesting relationship between risk and return, writes the brokerage house to its clients.

The share of the Norwegian bank became a strong competition when the company released results for the third quarter on October 30th, and the price continued in the consequences. The management of the bank is open due to the fact that competition in the consumer credit market has increased.


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