Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON
  1. Homepage
  2. Equities
  3. Norway
  4. Oslo Bors
  5. Equinor ASA
  6. News
  7. Summary
    EQNR   NO0010096985

EQUINOR ASA

(EQNR)
  Report
Real-time Quote. Real-time Oslo Bors - 12/01 07:24:09 am
231.9 NOK   +1.40%
07:11aEQUINOR : stepping up on fusion investment
PU
07:08aNotable quotes from the Reuters Next conference
RE
04:34aODL - Lundin exercises optional well
AQ
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Equinor : AutoStore, Norway's biggest IPO in two decades, valued at $12.4 bln

10/20/2021 | 01:51am EST
FILE PHOTO: A woman walks past the Oslo Stock Exchange building in Oslo

OSLO, Oct 20 (Reuters) - Norwegian robotics firm AutoStore said on Wednesday it had priced its initial public offering (IPO) at 31 Norwegian crowns per share, the top of its target range, valuing the company at 103.5 billion crowns ($12.4 billion).

SoftBank-backed AutoStore will be Norway's most valuable new listing for two decades when it goes public on Euronext's Oslo Stock Exchange later on Wednesday.

The company raised 2.7 billion crowns in cash from the issue of new shares, while existing owners such as Thomas H. Lee Partners, EQT and others sold stock worth 15.3 billion crowns.

"The money we get from the IPO will be used primarily to deleverage the debt to a level that is more normal for a public company," CEO Karl Johan Lier told Reuters.

He plans to bring down the leverage ratio to around 2.5 from the current ratio of between 5 and 6.

Following the IPO, the free float of AutoStore shares will amount to about 17.4% of the overall equity.

Founded in 1996, AutoStore has 20,000 robots deployed across more than 35 countries to automate warehouses. The company, whose customers include ASDA, Gucci and Lufthansa, uses robots to store and retrieve products, allowing customers to store four times the inventory in the same space.

In April, Japan's SoftBank bought https://www.reuters.com/article/us-softbank-group-autostore-idUSKBN2BS1YC a 40% stake in the Norwegian company for $2.8 billion, valuing AutoStore at about $7 billion at the time. SoftBank did not sell stock in the IPO.

"SoftBank is a very good partner, ready to help us drive more attention in the APAC region ... they have a large network of companies that can potentially be AutoStore customers so we see a lot of potential with the relationship," Lier said.

AutoStore is Norway's most valuable new listing since the 2001 debut of Statoil, now known as Equinor, which was valued at 151 billion crowns at the time of its IPO.

Four cornerstone investors, Alecta Pensionsforsakring, FIL Investments, Mawer Investment Management and WCM Investment Management, had each committed to invest $200 million ahead of the IPO.

AutoStore reported net revenue of $182.1 million last year and expects revenue of about $300 million in 2021, rising to more than $500 million in 2022 with a project pipeline worth $3.4 billion across 2,000 projects.

Bankers from Carnegie, J.P Morgan, Morgan Stanley, ABG Sundal Collier, Citigroup, Jefferies, Mizuho, SpareBank 1 Markets and Moelis were involved in the deal.

($1 = 8.3474 Norwegian crowns) (Reporting by Terje Solsvik and Gwladys Fouche; editing by Richard Pullin and Stephen Coates)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
EQUINOR ASA 1.42% 231.9 Real-time Quote.57.78%
SOFTBANK GROUP CORP. -2.87% 6030 End-of-day quote.-25.17%
All news about EQUINOR ASA
07:11aEQUINOR : stepping up on fusion investment
PU
07:08aNotable quotes from the Reuters Next conference
RE
04:34aODL - Lundin exercises optional well
AQ
11/30Seadrill Limited - Third Quarter 2021 Market Update
AQ
11/30Equinor sees less impact on energy demand from Omicron than other variants
RE
11/30Equinor ceo says he doesn't see a big impact from new covid variant on oil and gas dema..
RE
11/29Floatel International Ltd - Third Quarter Interim Report and Presentation
AQ
11/29Lundin Energy considers sale or merger, Bloomberg reports
RE
11/29Lundin Energy considers sale or merger, Bloomberg reports
RE
11/29Vermilion Energy ups stake in Corrib natural gas project off the coast of Ireland
AQ
More news
Analyst Recommendations on EQUINOR ASA
More recommendations
Financials (USD)
Sales 2021 86 745 M - -
Net income 2021 8 718 M - -
Net Debt 2021 5 683 M - -
P/E ratio 2021 9,56x
Yield 2021 2,67%
Capitalization 82 171 M 81 468 M -
EV / Sales 2021 1,01x
EV / Sales 2022 0,99x
Nbr of Employees 21 245
Free-Float 32,6%
Chart EQUINOR ASA
Duration : Period :
Equinor ASA Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends EQUINOR ASA
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 27
Last Close Price 25,31 $
Average target price 26,60 $
Spread / Average Target 5,12%
EPS Revisions
Managers and Directors
Anders Opedal President & Chief Executive Officer
Ulrica Fearn Chief Financial Officer & Executive Vice President
Jon Erik Reinhardsen Chairman
Carri Ann Lockhart Executive VP-Technology, Digital & Innovation
Jannicke Nilsson Chief Operating Officer
Sector and Competitors
1st jan.Capi. (M$)
EQUINOR ASA57.78%81 468
SAUDI ARABIAN OIL COMPANY-1.00%1 846 130
ROYAL DUTCH SHELL PLC27.14%160 501
PETROCHINA COMPANY LIMITED41.25%129 003
TOTALENERGIES SE15.04%120 190
PUBLIC JOINT STOCK COMPANY GAZPROM58.97%107 650