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

ENTRA ASA

(ENTRA)
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News SummaryMost relevantAll newsPress ReleasesOfficial PublicationsSector news

Potential secondary placement of shares in Entra ASA

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12/02/2019 | 10:33am EST
NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN OR INTO
THE UNITED STATES, CANADA, JAPAN OR AUSTRALIA OR ANY OTHER JURISDICTION INTO
WHICH PUBLICATION OR DISTRIBUTION WOULD BE PROHIBITED BY APPLICABLE LAW

Potential secondary placement of shares in Entra ASA 

The Norwegian State, represented by the Ministry of Trade, Industry and
Fisheries ("NMTIF"), today announces the intention to sell approximately 25
million shares in Entra ASA (the "Company" or "Entra", OSE-ticker "ENTRA"),
representing approximately 14% of the share capital and voting rights of Entra.

The final placement size and price per share will be determined through an
accelerated bookbuilding process to Norwegian and international investors. The
NMTIF reserves the right, at its own discretion, to increase or reduce the
number of offer shares or to sell no shares at all, depending on the price and
the demand for shares. The bookbuilding period commences immediately today, 2
December 2019 at 16:30 CET and may close at any time. The minimum order and
allocation has been set to a NOK equivalent of EUR 100,000. The NMTIF may,
however, allocate amounts below EUR 100,000 to the extent exemptions from the
prospectus requirement in accordance with applicable regulations, including the
Norwegian Securities Trading Act and ancillary regulations, are available.

The NMTIF currently holds 40,556,225 shares, corresponding to 22.27% of the
total number of shares and votes, in Entra.

Subject to certain customary exemptions, the NMTIF has undertaken not to dispose
of any additional shares in the Company within 90 days following completion of
the Placement without the prior written consent of the joint bookrunners. 

ABG Sundal Collier ASA, DNB Markets, a part of DNB Bank ASA and Goldman Sachs
International are acting as joint bookrunners in connection with the placement.
Wikborg Rein has acted as legal counsel to the Norwegian State in connection
with the placement.


IMPORTANT INFORMATION 

The release, publication or distribution of this press release in certain
jurisdictions may be restricted. This press release is for information purposes
only and does not constitute an offer of, or an invitation to purchase or
subscribe for, any securities of Entra or any other securities owned by the
Norwegian State in any jurisdiction.

This press release is not for publication, distribution or release, directly or
indirectly, in or into the United States, Canada, Japan or Australia or any
other jurisdiction into which publication or distribution would be prohibited by
applicable law. This press release does not constitute or form part of an offer
or solicitation to purchase or subscribe for securities in the United States,
Canada, Japan or Australia or any other jurisdiction where such an offer or
solicitation would be unlawful. The securities referred to herein have not been
and will not be registered under the US Securities Act of 1933, as amended (the
"US Securities Act") or under the securities laws of any state or other
jurisdiction of the United States or under the applicable securities laws of
Canada, Japan or Australia and may not be offered or sold in the United States
absent registration except pursuant to an exemption from, or in a transaction
not subject to, the registration requirements under the US Securities Act and in
compliance with any applicable laws of any state or other jurisdiction of the
United States. There will be no public offering of the securities in the United
States, Canada, Japan or Australia. Copies of this announcement should not be
made in and may not be distributed or sent into the United States, Canada, Japan
or Australia.

This press release is not a prospectus for the purposes of Regulation (EU)
2017/1129 (such Regulation, together with any applicable implementing measures
under such Regulation in the relevant home Member State, the "Prospectus
Regulation"). The Norwegian state has not authorized any offer to the public of
shares or rights in any Member State of the European Economic Area and no
prospectus or other offering document has been or will be prepared in connection
with the Norwegian state's possible sale of shares in Entra. With respect to
each Member State of the European Economic Area and which has implemented the
Prospectus Regulation (each, a "Relevant Member State"), no action has been
undertaken to date to make an offer to the public of shares or rights requiring
a publication of a prospectus in any Relevant Member State. In any Relevant
Member State this communication is only addressed to and is only directed at
qualified investors in that Member State within the meaning of the Prospectus
Regulation.

For the purposes of the product governance requirements of Directive 2014/65/EU
on markets in financial instruments, as amended ("MiFID II") and local
implementing measures, and disclaiming all and any liability, whether arising in
tort, contract or otherwise, which any "manufacturer" (for the purposes of the
Product Governance Requirements) may otherwise have with respect thereto, the
securities have been subject to a product approval process, which has determined
that such securities are: (i) compatible with an end target market of retail
investors and investors who meet the criteria of professional clients and
eligible counterparties, each as defined in MiFID II; and (ii) eligible for
distribution through all distribution channels as are permitted by MiFID II (the
"Target Market Assessment"). Notwithstanding the Target Market Assessment,
Distributors should note that: the price of the securities may decline and
investors could lose all or part of their investment; the securities offer no
guaranteed income and no capital protection; and an investment in the securities
is compatible only with investors who do not need a guaranteed income or capital
protection, who (either alone or in conjunction with an appropriate financial or
other adviser) are capable of evaluating the merits and risks of such an
investment and who have sufficient resources to be able to bear any losses that
may result therefrom. The Target Market Assessment is without prejudice to any
contractual, legal or regulatory selling restrictions in relation to the Offer.
Furthermore, it is noted that, notwithstanding the Target Market Assessment, the
bookrunner will only procure investors who meet the criteria of professional
clients and eligible counterparties. For the avoidance of doubt, the Target
Market Assessment does not constitute: (a) an assessment of suitability or
appropriateness for the purposes of MiFID II; or (b) a recommendation to any
investor or group of investors to invest in, or purchase, or take any other
action whatsoever with respect to the securities. Each Distributor is
responsible for undertaking its own target market assessment in respect of the
securities and determining appropriate distribution.

No actions have been taken by the Norwegian state, ABG Sundal Collier ASA, DNB
Markets, a part of DNB Bank ASA or Goldman Sachs International, or their
affiliates that would, or is intended to permit a public offering of the shares
in any jurisdiction, or possession or distribution of this press release, or any
other offering material or information material relating to the shares in any
jurisdiction where such actions are unlawful. Persons into whose possession this
press release comes are required by the Norwegian state, ABG Sundal Collier ASA,
DNB Markets, a part of DNB Bank ASA and Goldman Sachs International to inform
themselves about and observe any such restrictions.

ABG Sundal Collier ASA, DNB Markets, a part of DNB Bank ASA and Goldman Sachs
International are acting exclusively for the Norwegian state and no one else in
connection with the Transaction. ABG Sundal Collier ASA, DNB Markets, a part of
DNB Bank ASA and Goldman Sachs International will not regard any other person
(whether or not a recipient of this press release) as its client and will not be
responsible to anyone other than the Norwegian state for providing the
protections afforded to their clients nor for giving advice in relation to the
Transaction.

Click here for more information

© Oslo Bors ASA, source Oslo Stock Exchange

Stocks mentioned in the article
ChangeLast1st jan.
ABG SUNDAL COLLIER HOLDING ASA -1.95% 4.03 Delayed Quote.3.01%
ENTRA ASA -0.25% 156.6 Delayed Quote.8.28%
GOLDMAN SACHS GROUP INC. -1.56% 238.14 Delayed Quote.5.21%
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Financials (NOK)
Sales 2019 2 326 M
EBIT 2019 2 063 M
Net income 2019 2 356 M
Debt 2019 19 405 M
Yield 2019 2,98%
P/E ratio 2019 12,1x
P/E ratio 2020 25,0x
EV / Sales2019 20,6x
EV / Sales2020 20,6x
Capitalization 28 522 M
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Technical analysis trends ENTRA ASA
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Mean consensus OUTPERFORM
Number of Analysts 5
Average target price 148,40  NOK
Last Close Price 156,60  NOK
Spread / Highest target 6,64%
Spread / Average Target -5,24%
Spread / Lowest Target -17,0%
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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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