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– The shopping center is and will remain an important part of people’s lives. We knew this when we established Aurora Eiendom in June, says Petter A. Stordalen, chairman of the board of Aurora Eiendom, in a press release.
– Since then, we have worked hard on the growth strategy. The listing marks another important milestone in an eventful first year of operation for Aurora Eiendom. It also marks the start of further growth and value creation for our shareholders, he adds.
Aurora Eiendom announced on Wednesday 1 December that they had submitted an application for admission to Euronext Growth Oslo. The application was approved on Monday 13 December, and the company has its first listing day today, Wednesday 15 December.
The company has been listed on the OTC list and the shares were last traded at NOK 102 per share. On Wednesday, the share opens at around NOK 110 per share. This corresponds to an increase of around eight percent. However, this is happening at a very low trading volume.
Raised two billion in new share capital
I summer it became known that hotel investor Petter Stordalen, Norgesgruppen owner Johan Johannson, Marius Varner in the Varner group, Christian Ringnes and Lars Ove Løseth joined forces to form a new shopping center company: Aurora Eiendom.
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Stordalen is the chairman of the company, and Løseth is the managing director.
The shopping center company raised NOK 2 billion in new share capital in early June. 1.3 billion of these were pre-subscribed in a private placement in which 11 cornerstone investors participated. The remaining NOK 623 million was taken from 75 new shareholders in a subscribed share issue.
Owns five shopping malls
From the very beginning, Aurora Eiendom announced that it had entered into agreements to take over four shopping centers from Steen & Strøm AS: Vinterbro Senter in Ås municipality outside Oslo, Amanda Storsenter in Haugesund, Nerstranda in Tromsø and Nordbyen in Larvik.
These had a turnover of approximately 3.2 billion in 2020.
Shortly afterwards, it became known that Aurora Eiendom had also bought Farmandstredet in Tønsberg for NOK 1.8 billion from the well-known Steen & Strøm.
– Aurora Eiendom will continue to invest in centers that are leaders in their local areas, have a good location and an attractive mix of shops and services. We went against the flow in the market and focused on these social gathering places earlier this year. We now have great ambitions for further growth and investment opportunities in 2022, says CEO Lars Ove Løseth of Aurora Eiendom, and adds:
– With the listing, we look forward to having even more shareholders on the team.
The largest shareholders in the company are Eiendomsspar AS, Joh Johannson Eiendom AS, NREP, Strawberry Shopping AS, Alti Invest AS, Varner Invest AS, Stokke Industri Eiendom AS and AS Clipper.(Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases using a link, which leads directly to our pages. Copying or other use of all or part of the content may only take place with written permission or as permitted by law. For additional terms look here.
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