Main List News

Marine battery maker Corvus plans an initial public offer (IPO) in the fourth quarter, aiming to list its shares on the Oslo Stock Exchange, its top executive said on Wednesday.The company, which assembles battery cells into giant batteries for ships such as ferries, cruise vessels, tug boats, [and offshore support vessels] expects the global market for such solutions to be worth $10 billion in 2030."We see that already ... the backlog is three times what it was a year ago," Chief Executive Geir Bjoerkeli told an energy conference."To take that growth…

ESL Shipping, a shipping company fully owned by Aspo has completed the transaction concerning the acquisition of all the outstanding shares of AtoB@C Shipping AB and AtoB@C Holding AB that offer shipping services.Total of 444,255 new Aspo's shares issued as part of the purchase price of the Transaction have been registered in the Finnish Trade Register today on 31 August 2018. After the registration of the new shares, the total number of shares in Aspo is 31,419,779.As announced earlier, the new shares were issued as share consideration in connection with the Transaction in addition to the cash consideration payable to the sellers and the shares are subject to a two-year transfer restriction and pledge.

Aker Yards ASA was listed on the Main List of Oslo Stock Exchange as of Tuesday June 1, 2004. Aker Yards is listed under the ticker AKY. A prospectus for the listing of the Aker Yards shares has been prepared, and is available with the company and investment firms registered exchange members, including the Managers in connection with the Listing. The prospectus has been distributed to all Aker Yards shareholders, and disclosed with the Oslo Stock Exchange.

Share prices in Oslo rose in August for the sixth consecutive month, and can thus show for positive share price movements for seven out of eight months so far this year. While the All Share Index gained another 2.4 percent in August, the Shipping Index was a little behind with a 1.4 percent increase. Shipping and Offshore shares are up 43.2 percent for the year. The oil price continued to rise in August. For the first time since October 1997 North Sea oil for immediate delivery (Brent spot) was traded at more than USD 21 per barrel, doubling the oil price since January. Oil-related shares are obediently following the oil price with the value of offshore shares on the Main List rising 11 percent in August after the July rise of 20 percent. TGS Nopec (TGS), Det Søndenfjeldske (SFJ) and Fred.

Share prices in Oslo rose in August for the sixth consecutive month, and can thus show for positive share price movements for 7 out of 8 months so far this year. While the All Share Index gained another 2.4 percent in August, the Shipping Index was a little behind with a 1.4 percent increase. Shipping and Offshore shares are up 43.2 percent for the year. The oil price continued to rise in August. For the first time since October 1997 North Sea oil for immediate delivery (Brent spot) was traded at more than USD 21 per barrel, doubling the oil price since January. Oil-related shares are obediently following the oil price with the value of offshore shares on the Main List rising 11 percent in August after the July rise of 20 percent. TGS Nopec (TGS), Det Søndenfjeldske (SFJ) and Fred.

Offshore shares have been the winners in recent months on the back of a rapidly rising oil price. In September however, this sector dipped 5.9 percent to show the poorest price performance on the Main List. PGS's (PGS) price fall of 7.3 percent was the main contributor. Fred. Olsen Energy (FOE) and Smedvig (SME & SMEB) dropped 12.6 and 10.3 percent respectively. This was despite a continuing rise in the oil price resulting from OPEC discipline and declining oil stocks. Not since January 1997 has North Sea oil commanded such high prices as today. The SMB-listed Ocean Rig (OCR) almost halved its value during September, much due to a new issue that are being executed at a much lower price than expected.

Higher oil prices have helped the Oslo Stock Exchange's shipping index, which features maritime and offshore shares, to rise by 33.7 percent so far this year - outperforming the exchange's other indexes. Share prices of offshore shares have decreased for two months now, resisting the influence of continued buoyant oil prices. The value of shares on the Main List dropped 5.6 percent in September and 13.6 percent in October. The 19.6 percent price fall recorded by the seismic company Petroleum Geo-Services (PGS), the biggest offshore company on the Exchange, was the main contributor. The SMB-listed offshore company Ocean Rig (OCR) tops the losers list for the second month running, having sliced almost 30 percent off its share price in October. Big players such as Fred.

A December rally on the Oslo Stock Exchange gave maritime shares an extra glitter and ensured a strong finish to an already strong year. Shipping and offshore shares performed marginally better than shares on the general Oslo market during 1999, rallying 8.6 percent in December to finish the year a solid 48.0 percent above last year's close. The All Share Index, which includes all shares on the Main List, was up 45.5 percent for the year, and shaking off the dismal record in 1998 when the index dropped 26.7 percent. The All Share Index is still 4.4 percent away from its all time high, while the Shipping Index is 24.4 percent below its top mark.