Elopak listed on the Oslo Stock Exchange
(Oslo, 17 June 2021) Elopak, a leading global supplier of liquid carton packaging, has today been admitted to trading on the Oslo Stock Exchange (ticker code: ELO). Elopak is at the forefront of sustainable packaging.
“This is a big day for Elopak, and I am very proud of today’s listing. Being a listed company gives us greater flexibility to grow and develop further. It also represents an opportunity for anyone to invest in Elopak and join us on our journey to deliver high quality sustainable packaging solutions. Our vision is to be ‘chosen by people, packaged by nature’. Now we will also work hard to be chosen by investors.” says Thomas Körmendi, CEO of Elopak.
As part of the initial public offering, a total of approx. 123 mill shares were allocated, including an issue of approx. 18 mill new shares that raised EUR 50 million of new equity. The offering attracted strong interest from institutional investors and was significantly oversubscribed. As previously reported, Nippon Paper Industries Co. Ltd has acquired 5.0% of the share capital.
The final price for the shares in the offering was NOK 28, corresponding to market capitalization for Elopak of NOK 7.5 bn. Elopak’s former sole owner Ferd intends to remain an active and committed shareholder.
“The listing is an exciting milestone for Elopak. It has been quite a journey since Elopak was established as a local hero in Norway in 1957, to the position it enjoys today as a global industry leader. As long-term owners and supporters we are impressed with Elopak’s achievements so far, and we look forward to continuing our work with the company in the future. As a listed company, Elopak will have greater financial flexibility to support its plans for growth and play an even larger role in the global shift towards a low-carbon circular economy. We welcome all the new shareholders”, says Morten Borge, CEO of Ferd.