RPT-Borregaard IPO prices firm at 21 crowns per share
OSLO Oct 18 (Reuters) - The initial public offering of Norwegian speciality chemicals firm Borregaard was priced at 21 crowns per share, conglomerate Orkla said on Thursday, a day after predicting a price between 21 and 22 crowns.
Orkla, which earlier said it aims to sell 81 million shares and raise up to $350 million from the sale, initially indicated the IPO between 20 and 25 crowns per share, valuing Borregaard between 2 and 2.5 billion crowns.
Borregaard shares are expected to start trading on the Oslo bourse on Thursday.
Borregaard operates a refinery that produces chemicals from biomass, such as timber, straw, and other agricultural and forestry waste.
ABG Sundal Collier and UBS Investment Bank were the joint co-ordinators and joint bookrunners for the IPO, while DNB Markets, Handelsbanken Capital Markets and SEB Enskilda were the co-lead managers. (Reporting by Victoria Klesty)
- Insight: How U.S. spying cost Boeing multibillion-dollar jet contract
- Exclusive: Secret contract tied NSA and security industry pioneer |
- With Fed out of the way, what's next on Wall Street?
- Yemeni al Qaeda says attack on hospital was mistake
- Insight: For Chinese farmers, a rare welcome in Russia's Far East