Admission to listing will be on a conditional basis (“if sold/if issued”) until the second day of listing in accordance with Section 2.5.2 of the Listing Rules.
The Board agreed to exempt the company from the requirement that a listed company must have been in existence for at least three years, cf. Sections 2.3.1 and 2.3.2 of the Listing Rules. This exemption was granted because the company’s business has been in existence for the required time, but has been operated through different legal entities.
The Board stipulated that the company prior to the first day of listing must satisfy the requirement for the number of shareholders as set out in Section 2.4.2 of the Oslo Børs Listing Rules, and have at least 25 % spread of share ownership among the general public, as specified in section 2.4.1 of the Oslo Børs Listing Rules.
The Board authorised the Chief Executive Officer of Oslo Børs to determine the date of the first day of listing, which is to be no later than on 21 November 2014
Entra is one of Norway’s leading property companies. The company owns and manages approximately 1.3 million square meters, divided among 107 buildings, primarily located in Oslo and the surrounding region, Bergen, Stavanger and Trondheim. As of 30 June 2014, the market value of the property portfolio was approximately NOK 27 billion. Entra is owned by the Norwegian state through the Norwegian Ministry of Trade, Industry and Fisheries.