The Board of Oslo Børs approves Visitin Pharma and Sevan Drilling for listing

Markets, Stock Markets — By on May 26, 2015 at 5:39 PM

oslo bors26/05/2015 – At its meeting on 26 May 2015, the Board of Directors of Oslo Børs resolved to admit the shares in Visitin Pharma ASA and Sevan Drilling Limited to listing. At the same time, it was resolved to admit the B shares in Schibsted ASA to listing.

The B shares in Schibsted ASA to be listed on Oslo Børs
The Board stipulated that, prior to the first day of listing, the company must establish the new B shares as planned and publish an approved prospectus.

The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 10 July 2015.

Sevan Drilling Limited to be listed on Oslo Børs
The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years, cf. section 2.3.1 and 2.3.2 and the requirement for three years activity, cf. section 2.3.1 and 2.3.3 of the Oslo Børs Listing Rules. The exemptions were granted because the company’s business has been in existence for the required time, but has operated through a different legal entity.

The Board stipulated that, prior to the first day of listing the company must satisfy the requirements for 25 % spread of share ownership among the general public, the number of shareholders, registration of the share capital with Central Securities Depository as specified in the sections 2.4.1, 2.4.2 and  2.4.7 of the Oslo Børs Listing Rules. Further, the Board stipulated that the company must publish an approved prospectus and the migration must be completed in accordance with the plans prior to the first day of listing.

The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 10 July 2015.

Visitin Pharma ASA to be listed on Oslo Axess
The Board stipulated that, prior to the first day of listing, the company must satisfy the requirement for the number of shareholders as specified in Section 2.4.2 of the Oslo Axess Listing Rules, and have at least 25% spread of share ownership among the general public, as specified in Section 2.4 of the Oslo Axess Listing Rules. The board also stipulated that prior to listing the company must raise a minimum of NOK 170 million in equity through the planned share issue.

The Board authorised the Chief Executive Officer of Oslo Børs to fix the date of the first day of listing, which is to be no later than 10 July 2015.

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