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Norske Skog AS considers an IPO and listing on Oslo Børs

OSLO (News release) -- Norske Skog AS, one of the leading global publication paper producers, announces today that it has initiated a process to consider an initial public offering ("IPO") and listing of its shares on Oslo Børs (Oslo Stock Exchange). Norske Skog AS is currently owned by funds managed by Oceanwood Capital Management Limited.

The possible IPO is expected to comprise a public offering of shares in Norway and a private placement to institutional and other professional investors in certain other jurisdictions. The transaction may include a secondary sale of shares by Oceanwood and/or a sale of new shares by Norske Skog.

Sven Ombudstvedt, Chairman of the Board and Chief Executive Officer (CEO) of Norske Skog, commented:

- The owner of Norske Skog considers that a listing of Norske Skog's shares would provide an important platform for future development. We have a strong track record of cash flow generation despite declining demand for paper products. Access to the equity capital market would add opportunities to fund further growth going forward. Our long-term strategy remains to improve our core business, convert relevant parts of our paper machines and to diversify the business within the bioenergy, fibre and biochemical markets".

The process to consider an IPO and listing of the shares is expected to be concluded in the second half of 2019, subject to prevalent market conditions. ABG Sundal Collier ASA and DNB Markets, a part of DNB Bank ASA (in the roles as joint global coordinators and book-runners) (the "Managers"), and Carnegie AS (in the role as joint book-runner), have been mandated to assist Norske Skog in the process. Advokatfirmaet Thommessen AS is acting as Norwegian legal counsel to Norske Skog.


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