Public Property Invest lists on Oslo Børs

• Market capitalisation of NOK 3.025 billion
• NOK 1.52 billion raised
• The first listing of the year on Oslo Børs and the 13^th on Euronext

Oslo– 29 April 2024 – Euronext Oslo Børs today congratulates the real estate company Public Property Invest, on its listing on Oslo Børs (ticker code: PUBLI).

The company was founded in 2021 by the companies Samhällsbyggnadsbolaget i Norden (SBB) and Arctic Securities. Public Property Invest owns, manages, and develops public properties, boasting a portfolio of Norwegian real estate that is currently valued at NOK 9 billion. Its properties are leased to police stations, courts, public health enterprises, and other governmental agencies. Today, 92% of its rental income stems from the Norwegian state or municipalities.

Public Property Invest is the first listing this year on Oslo Børs marketplaces and the 13^th on Euronext. During the Initial Public Offering, the company successfully raised NOK 1.52 billion, which is earmarked for future growth initiatives and debt reduction. The offering included segments for institutional investors, retail investors, and existing shareholders.

The share price was set at NOK 14.50 per share at market opening, resulting in the company reaching a market value of NOK 3.025 billion on its first day of trading.

Ilija Batljan, founder of SBB and interim CEO of Public Property Invest, said: “The listing of Public Property Invest on Oslo Børs marks the end of a series of successful transactions, which has created a property company with a long-term strategy of owning, operating and developing attractive and socially beneficial property in Norway. In challenging market conditions, we have raised NOK 1.52 billion in capital which together with the IPO will give opportunity for the company to position itself as a leading consolidator in the Norwegian real estate market with low leverage, high growth ambitions and an attractive dividend policy. We look forward to delivering value to our shareholders”.

Caption:Ilija Batljan, founder of SBB and interim CEO of Public Property Invest, and Theodor Melder, rang the bell this morning to celebrate the listing of Public Property Invest on Oslo Børs main market. The company was welcomed by Øivind Amundsen, CEO of Oslo Børs. (Photo: Thomas Brun/ NTB)

About Public Property Invest ASA

Public Property Invest was established in 2021 by SBB and Arctic Securities with a long-term strategy of owning, operating, and developing socially beneficial property in Norway. Sustainable property management is an integral part of Public Property Invest’s business. Its portfolio of properties is characterized by strong tenants within the public sector, such as the police, judiciary functions and public health organizations, on long lease contracts and a high occupancy rate.

Public Property Invest’s portfolio consists of more than 368,000 sqm across 61 properties which had an aggregate estimated value of around NOK 9,976 million as of 31 December 2023. It has more than 125 public tenants in 26 cities. Hundreds of subcontractors ensure that its tenants can fulfil their important societal missions every day. In the medium to long term, Public Property Invest is expected to generate NOK 690 million in normalised run-rate rental income, of which public tenants constitute approximately 92 per cent. The company intends to be an active consolidator in the market. With a strong balance sheet, it pursues an opportunistic growth strategy.

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