World  Business and Economic Analysis 

Norway – All The Way

           

           
                     
     
A fjord in Norway, with the Norwegian...

A fjord in Norway, with the Norwegian flag in the foreground. Taken during a day cruise (Photo credit: Wikipedia)

On January 28 and January 29, two Norway-headquartered companies, Marine Harvest Group and North Atlantic Drilling, successfully joined the NYSE roster. They added a U.S. trading facility to their existing home market presences in Oslo.

Marine Harvest Group (NYSE: MHG) listed as a quotation (no capital raising), adding an NYSE listing to attract U.S. investors with interest in the aquaculture sector.

It is a leading seafood company offering farmed salmon and processed seafood to customers in more than 50 markets worldwide. Marine Harvest was created as a result of the 2006 merger between Pan Fish ASA, Fjord Seafood ASA, and Marine Harvest N.V. (the last has the longest history, dating back to 1965). The Group employs 6,200 people across 22 countries worldwide including Norway, Chile, Scotland, Canada, Ireland, and the Faroe Islands. Value added processing activities take place in the U.S., France, Belgium, the Netherlands, Poland, and Chile.

North Atlantic Drilling (NYSE: NADL), the Stavanger-based offshore contractor, raised approximately $125 million by placing 13.5 million new shares at a price of $9.25. NADL said proceeds will likely be used for “general corporate purposes” and working capital. The company specializes in offshore harsh environment drilling. Its fleet includes: four semi-submersible drilling rigs, one ultra-deepwater drillship, and two jack-ups. A pair of new buildings are due for delivery this year and next. Seadrill Limited (NYSE: SDRL) owns more than 70 percent of North Atlantic Drilling, its subsidiary.

Norwegian entrepreneur John Fredriksen is a major investor in each of the companies. He and his daughters, together with the management of the respective companies, presided over back-to-back opening bells (click here for photos from the Marine Harvest and North Atlantic Drilling bells).

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کتاب عملیات بانکی در عرصه بین الملل -سرفصل ها،ضمائم ،توصیه صاحب‏نظران ارزی و مدیران ارشد بانکی

Investment Consulting &Project Finance

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