Moreld lists on Euronext Growth Oslo

• Market capitalisation of approximately NOK 2.5 billion

• The 50^th listing on Euronext in 2024 and the 13^th listing on Euronext Oslo Børs’ markets

• New Euronext IPO ready alumnus to successfully complete a listing

Oslo– 19 December 2024 – Euronext today congratulates Moreld (ticker: MORLD) on its listing on Euronext Growth Oslo. This marks the 13^th listing on Euronext Oslo Børs’ markets in 2024 and the 50^th listing across Euronext markets this year.

Moreld is a full-service project execution partner, offering services across the offshore energy and marine industries including subsea installations and renewable energy. A significant player on the Norwegian continental shelf, Moreld also offers services internationally.

Ahead of its listing, the company raised NOK 1 billion through a private placement. Shares were priced at NOK 13.95 before market opening, resulting in a market capitalisation of NOK 2,550 million on its first day of trading.

In 2022, Moreld participated in IPOready, Euronext’s pan-European educational programme designed to support companies preparing for a listing. Euronext’s pre-IPO programmes have a strong track record, with over 920 alumni trained since 2015. To date, 32 participants have successfully listed their companies on Euronext markets, with Moreld becoming the second Norwegian alumnus to do so.

Geir Austigard, CEO of Moreld, said: “With almost NOK 9 billion in revenue and a customer base of highly respected and ambitious energy companies, Moreld has reached a stage and scale where listing is a logical next step. On Euronext Growth and with a subsequent potential uplisting to a fully regulated marketplace, the Company will benefit from access to capital and market visibility. We will provide investors exposure to our attractive business model and high growth markets. Our asset-light business model results in strong cash flow generation, which means we will be well positioned to pay dividends, providing an attractive balance of growth and direct return for investors.”

Caption: Geir Austigard, CEO of Moreld, and his team rang the bell last week when they visited Euronext Oslo Børs. The company was welcomed by Øivind Amundsen, CEO of Euronext Oslo Børs and Eirik Høiby Ausland, Head of Listings Nordics in Euronext. (Photo: Thomas Brun | NTB).

About Moreld

Moreld is a leading full-service project execution partner providing comprehensive services across the offshore energy and marine industries. With over 40 years of experience on the Norwegian Continental Shelf (NCS), Moreld is a key player in the sector, supported by long-term agreements with high-quality exploration and production (E&P) operators. The Group operates an asset-light business model with strong cash flow and minimal capex requirements, employing over 2,500 skilled professionals and contractors, including a large share of engineers. With a presence in 19 countries, including Norway, the UK, USA, Canada, Australia, and key offshore markets across Asia, the Middle East, and Europe, Moreld’s global reach enables it to deliver high-value solutions to clients worldwide. 

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