Norconsult, a prominent Norwegian engineering consultancy with a rich history dating back to its establishment in 1929, is gearing up for an initial public offering (IPO). The company, wholly owned by a dedicated workforce of 3,700 employees, has unveiled plans to offer approximately 25% of its shares to the public. Notably, major stakeholders are also intending to divest 35% of their shares in the IPO, while an over-allotment option of up to 15% of the initial shares is expected.
Operating out of 130 offices spanning across the Nordic countries and Poland, Norconsult boasted an impressive net revenue of NOK 7.5 billion ($685.1 million) in 2022, accompanied by an Ebita of NOK 741 million. This financial performance reflects an impressive 9.9% adjusted Ebita margin. The forthcoming IPO is strategically aligned with Norconsult’s vision for future growth, development, and exploration of strategic opportunities.
The commencement of trading for Norconsult’s shares on the Oslo Bors is tentatively set for November, pending approvals from both Oslo Bors and the Norwegian Financial Supervisory Authority, and subject to favorable conditions within the equity capital market.
Norconsult’s decision to go public is a significant move for a company deeply rooted in Norwegian industry and history, as it paves the way for a broader investor base and expanded opportunities.
