The main index of the Oslo Stock Exchange rose 0.6% on the penultimate trading day of the week. The main index is down nearly two percent this week.
At the same time, the price of North Sea oil continues to hold well below $80, with a barrel of North Sea oil (burnt spot) trading at $77 towards the end of the trading day. It’s the lowest point since late December last year, even up two percent in the middle of the trading day.
Dives after the discounted issue
Drone company Nordic Unmanned has plummeted after negotiations began. At the close of trading, the share was down 47%. The share traded for NOK 5.8 at the close of trading.
The price crash comes after the company made a NOK 70 million private placement. 11.66 million new shares were issued at a subscription price of NOK six each.
The Nordic Unmanned share closed at NOK 11.4 on Wednesday, meaning that the issuance was done at a discount of just over 47%.
Nordic Unmanned Knut Roar Wiig Chief Executive Officer. (Photo: TOMMY ELLINGSEN)
In the issue, Skaulen, wholly owned by CEO Knut Roar Wiig, sold 783,338 shares for a total sum of approximately NOK 4.7 million. The buyers of these are various primary insiders. It was alleged that the reason for the sale is to conclude a loan agreement with a financial institution.
The company will also initiate a remedial issue of up to 11.66 million new shares, aimed at existing shareholders who were not authorized to participate in the direct issue. The price is NOK six per share.
The issue of reparation is subject, inter alia, to the approval of an extraordinary general meeting due to be held before Christmas, as well as a prospectus. The company said the private issuance was “well hedged,” and that the cash would be used for investments in property shares, equipment and maintenance, and to reduce short-term debt.
The heavyweights are closing in
Otherwise, there is an increase for, among others, Equinor, Frontline, Salmar and Aker BP, which are helping to lift Oslo Børs on Thursday.
Equinor is up about 1.1 percent and is, as usual, the most traded stock. After the oil company, Hydro, Frontline and Aker BP top the list of most traded stocks.
As 2022 draws to a close, the main index is expected to decline by 1.3% this year.
However, since the “autumn low” at the end of September, the main index has increased by almost ten percent. Since the main index’s last peak in late August, the decline is just over seven percent. (Terms)Copyright Dagens Næringsliv AS and/or our suppliers. We would like you to share our cases using the links, which lead directly to our pages. Copying or other forms of use of all or part of the content may only take place with written permission or as permitted by law. For additional terms see her.
