After Oslo Børs finished slightly higher on Tuesday, Wednesday started at the same level. However, it fell over the course of the day, with the main index closing 0.52% down.
The stock market was weighed down by the drop in oil prices. At 16.25 a barrel of North Sea crude oil was trading at 92.2 dollars on the spot market, down 1.5 percent from yesterday.
Flying rescue
At an extraordinary general meeting in Flyr on Wednesday morning, the capital raise was adopted in four stages. The plan – which is to bring in 700 million Norwegian kroner in fresh cash – was voted on, but just under 14% of the shares were represented.
– All points have been adopted in line with the board’s proposal, writes the company in one stock market announcement.
Investors supported the company’s desire to raise NOK 250 million by issuing 25 billion new shares, when the issue was oversubscribed on 10 November.
The Flyr rate fluctuated sharply on Wednesday. When the exchange opened, one share was trading for six øre. By 1pm the share was down over 30% and one share was therefore traded for four øre. The fall then accelerated as stock trading picked up. The share last traded for NOK 0.024, which is a 60% decline.
Wednesday was again a hyperactive day on Oslo Børs for Flyr stock, measured in terms of the number of shares traded. With nearly 280 million shares outstanding on the day, that’s nearly half of the company’s shares. A total of 1.3 billion shares have been traded in the company over the past ten trading days, indicating that the company’s small stock has changed hands twice.
You want to trade Kahoot
Kahoot’s stake also swung strongly Wednesday afternoon on news that venture capital firm General Atlantic, which is Kahoot’s largest owner, is considering options to increase its stake in the company, which could involve a bid. Bloomberg reported it, citing anonymous sources.
Kahoot’s share increased by a maximum of 15%, but the increase was quickly reversed. The stock ended the day almost completely flat. Kahoot was the second most traded stock of the day at NOK 350 million, beaten only by Equinor.
kvartalsrush
Silicon maker Rec Silicon provided quarterly data for the third quarter on Wednesday morning. The numbers showed a slight increase in revenue from $36.2 million to $36.7 million in the third quarter.
At the same time, REC reported an operating profit of minus $19.6 million for the quarter, corresponding to a deficit of 195 million crowns at today’s exchange rate. That’s nearly double the operating loss from the same quarter last year, when operating income was minus $10.7 million.
Shares of Rec Silicon are down about 8% on Wednesday.
Dry-freight shipping company Golden Ocean Group, well shipping company Frøy and salmon farmer Salmon Evolution also reported results for the third quarter on Wednesday:(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.
- Golden Ocean Group closed with an operating profit of 102 million dollars, equal to approximately one billion Norwegian kroner. This is a decrease from the third quarter of last year and slightly worse than anticipated in advance. The company plunged ten percent on Wednesday.
- Frøy improved revenue in the third quarter. The company increased its turnover from NOK 457 million to NOK 614 million. However, operating profit fell from NOK 110 million to NOK 96 million. The company grew four percent.
- Salmon Evolution closed with an operating profit of minus NOK 22 million in the third quarter of this year. In the same period last year, the operating profit closed at minus five million crowns. Salmon Evolution ended the day flat.
