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MarketScreener Homepage  >  Equities  >  Oslo Bors  >  Entra ASA    ENTRA   NO0010716418

ENTRA ASA

(ENTRA)
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Norway cuts Entra stake in $371 million share sale

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12/03/2019 | 02:55am EST

The Norwegian government sold a 14.1% stake in real estate company Entra for 3.4 billion crowns (289 million pounds), the country's industry ministry said on Tuesday.

Following the sale of shares to around 210 foreign and Norwegian investors, the government's remaining stake now stands at 8.2%.

"Our goal is to boost private ownership in Norway, and the government has long said we will not be a long-term owner of Entra," Industry Minister Torbjørn Roe Isaksen of the ruling Conservative Party said.

The shares were sold at 133 crowns each, a discount of 3.3% to Monday's closing price. The shares have doubled in value however since Entra went public in 2014.

The transaction was managed by ABG Sundal Collier, DNB Markets and Goldman Sachs International.

The government has agreed to a so-called lock-up period of 90-days, during which it will not sell any further Entra shares.

(Reporting by Terje Solsvik, editing by Louise Heavens)

Stocks mentioned in the article
ChangeLast1st jan.
ABG SUNDAL COLLIER HOLDING ASA -3.20% 3.63 Delayed Quote.-17.58%
DNB ASA -0.16% 155.15 Delayed Quote.12.49%
ENTRA ASA 0.42% 141.8 Delayed Quote.22.57%
GOLDMAN SACHS GROUP INC. -0.82% 222.95 Delayed Quote.34.46%
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Financials (NOK)
Sales 2019 2 329 M
EBIT 2019 2 044 M
Net income 2019 2 368 M
Debt 2019 19 265 M
Yield 2019 3,33%
P/E ratio 2019 10,9x
P/E ratio 2020 21,8x
EV / Sales2019 19,3x
EV / Sales2020 18,8x
Capitalization 25 717 M
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 137,75  NOK
Last Close Price 141,20  NOK
Spread / Highest target 6,23%
Spread / Average Target -2,44%
Spread / Lowest Target -7,93%
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Managers
NameTitle
Sonja Horn Chief Executive Officer
Siri Beate Hatlen Chairman
Anders Landro Olstad Chief Financial Officer
Kjell Bjordal Vice Chairman
Widar Salbuvik Director
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