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Mercell joins the growing number of IT companies at Oslo Børs

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Oslo Børs

Mercell joins the growing number of IT companies at Oslo Børs

09/07/2020 – Mercell raised NOK 450 million in new equity through a share issue prior to its admission to trading, and its ambition is to be a leader in Europe.

“We attracted an enormous level of interest from Norwegian and international investors and our share issue was more than ten-times oversubscribed. Our capital raising puts us in a strong position to achieve our target of becoming the leading company in Europe in our industry”, explains Terje Wibe, the CEO of Mercell.

Mercell offers a digital platform for public procurement where buyers and suppliers meet in a unique, web-based marketplace.
“The level of interest in our share issue is testament to Mercell as a company, our business model and our strategy. It is a vote of confidence in the entire organisation and something that we will manage responsibly as we now work to develop the company for the benefit of all our shareholders”, continues Terje Wibe.

An increasingly important sector at Oslo Børs
Three IT companies have been admitted to listing or trading since the start of 2020, and next week yet another IT company is aiming to be admitted to Merkur Market.
“We are attracting more and more IT companies. Oslo Børs is a world-leader in energy, seafood and shipping. We are now starting to achieve this position in IT as well”, comments Øivind Amundsen, the President and CEO of Oslo Børs.

Over the last year world-leading companies such as Kahoot! and Pexip have been admitted to listing or trading at Oslo Børs. The number of IT companies that are listed or traded at Oslo Børs is at its highest since 2008, and their combined market capitalisation is at its highest ever level. At the same time, the market capitalisation of IT companies as a proportion of the combined market capitalisation of all companies listed or traded at Oslo Børs has grown to its highest level since 2001– see the graph below.

“I am very pleased to see that the Norwegian IT industry is succeeding and that companies in the sector are investing and attracting new capital in order to grow further. At Oslo Børs, IT companies can come into contact with investors from across the world that can contribute to their growth plans”, continues Øivind Amundse

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