On Friday 12 May Norwegian Property ASA completed its first private placement, of 1.75 billion NOK, at a share-price of 50 NOK per share. The offering was 5.3 times oversubscribed by Norwegian and foreign investors.

 

On Friday 9 June the announced equity rollover from property-sellers was completed. The sellers have contributed with a total of 1.35 billion NOK in new equity, subscribed at a price of 50 NOK per share. Total equity is now app 3.1 billon NOK, and the company has issued 61 854 122 shares in total.

 

- We have maintained a rapid pace in the development of the company. So far we have followed a very ambitious time-schedule. We are currently in the process of hiring a CEO. This process goes according to plan, and specific discussions with a limited number of candidates are ongoing. At the same time we are preparing the recruitment a full management team, says Mr. Knut Brundtland, Chairman of the board at Norwegian Property ASA.

 

As from Tuesday 13 June the company will be listed on the Norwegian OTC-list (NOTC), with the ticker-code NPRO. The company has entered into an agreement for price information, and a distribution agreement with FINFO. Share-price information and news releases will from this date be available at http://www.nfmf.no/NOTC.

 

Shares in Norwegian Property ASA were traded at NOK 51 - 52 per share on Friday 9 June.

 

Norwegian Property ASA is developing a website, which will gradually give additional information about the company and the property portfolio. This website will be available at www.norwegianproperty.no as from Tuesday 13 June.