Romsdalsbanken admitted to trading
“Being traded on Merkur Market gives us access to capital. For holders of the bank’s equity certificates, this means greater liquidity, a transparent market for price formation, and the ability to buy and sell the bank’s equity certificates electronically”, comments Odd Kjetil Sørgaard, the CEO of Romsdalsbanken.
In March Romsdalsbanken raised NOK 78.75 million through a preferential rights issue at a subscription price of NOK 105. The bank has 376 equity certificate holders, the majority of whom are domiciled in its local area.
Romsdalsbanken is the only bank to be headquartered in Romsdal. However, its admission to an Oslo Børs marketplace puts it in the company of a range of other savings banks from across Norway, including from the neighbouring areas of Sunndal and Surnadal. There are currently 29 savings banks traded on Oslo Børs’ marketplaces, eight of which are on Merkur Market.
“Merkur Market is a good fit for savings banks. There has been a steady stream of new savings banks admitted to this marketplace in recent years. We would like to extend a warm welcome to Romsdalsbanken”, comments Øivind Amundsen, the President and CEO of Oslo Børs.
Norne Securities and Kvale Advokatfirma were the bank’s advisors in connection with its admission to trading on Merkur Market. The bank’s equity certificates will be traded on Merkur Market under the ticker “ROMSB-ME”.
About Romsdal Sparebank
Romsdal Sparebank (Romsdalsbanken) is an independent, local savings bank with history that spans back to 1878. The bank is a result of the merger between Bud, Fræna og Hustad Sparebank and Nesset Sparebank in 2018 and is the only bank headquartered in Romsdal. The headquarter is located in Elnesvågen and the bank also has offices in Molde and Eidsvåg. The bank has total assets of NOK 5.8 billion, just under 50 employees and around 13 000 customers.
What is an equity certificate?
Equity certificates represent an important part of many savings banks’ capital bases and are similar to shares.
