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Norske Skog AS considers an IPO and listing on Oslo Børs

OSLO (News release) -- Norske Skog AS, one of the leading global publication paper producers, announces today that it has initiated a process to consider an initial public offering ("IPO") and listing of its shares on Oslo Børs (Oslo Stock Exchange). Norske Skog AS is currently owned by funds managed by Oceanwood Capital Management Limited.

The possible IPO is expected to comprise a public offering of shares in Norway and a private placement to institutional and other professional investors in certain other jurisdictions. The transaction may include a secondary sale of shares by Oceanwood and/or a sale of new shares by Norske Skog.

Sven Ombudstvedt, Chairman of the Board and Chief Executive Officer (CEO) of Norske Skog, commented:

- The owner of Norske Skog considers that a listing of Norske Skog's shares would provide an important platform for future development. We have a strong track record of cash flow generation despite declining demand for paper products. Access to the equity capital market would add opportunities to fund further growth going forward. Our long-term strategy remains to improve our core business, convert relevant parts of our paper machines and to diversify the business within the bioenergy, fibre and biochemical markets".

The process to consider an IPO and listing of the shares is expected to be concluded in the second half of 2019, subject to prevalent market conditions. ABG Sundal Collier ASA and DNB Markets, a part of DNB Bank ASA (in the roles as joint global coordinators and book-runners) (the "Managers"), and Carnegie AS (in the role as joint book-runner), have been mandated to assist Norske Skog in the process. Advokatfirmaet Thommessen AS is acting as Norwegian legal counsel to Norske Skog.

About Norske Skog
Norske Skog is a leading producer of publication paper with strong market positions in Europe, where it occupies a top-tier publication paper position, and Australasia, where Norske Skog is a leading producer of publication paper in a concentrated market.

Norske Skog operates a total of seven profitable paper mills strategically located close to attractive markets and with total paper production capacity of 2.6 million tons, comprising 1.7 million tons of newsprint and 0.9 million tons of magazine paper (supercalandered and coated mechanical).

The Norske Skog Group has approximately 2,400 employees, and had in 2018 annual revenue and EBITDA of approximately NOK 12.6 billion and NOK 1.0 billion, respectively. The EBIT for 2018 was NOK 0.9 billion.

About Oceanwood
Oceanwood is an independent investment management firm founded in 2006, located in London and Malta. The firm manages over USD 2 billion of capital, primarily for public pension plans and other institutional investors. Oceanwood is dedicated to investing in companies across Europe and employs a fundamental approach for its investments. The firm focuses on balance sheet sustainability and employs a constructive approach to working with management teams aiming to achieve positive results for all stakeholders.

********** has taken off like a rocket! Over fifty jobs are posted, in many interesting categories. These jobs are in at least ten different US states. [06.19.19]


Employers are on board with There are nearly forty employers located in fifteen different US states and six other countries. [06.19.19]

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