Ørn Software lists on Euronext Growth Oslo

Esta página está disponível em várias línguas

Select Language

Oslo, 29 March 2021 – The Norwegian software company Ørn Software has today been admitted to trading on Euronext Growth (ticker code: ORN).

Ørn Software is a Nordic provider of SaaS (Software as a Service) solutions enabling efficient operations and maintenance across a wide range of asset-heavy industries.

“We are experiencing a significant demand for digital solutions that contribute to increasing efficiency, improving collaboration, and reducing the environmental footprint. Our software solutions have been adopted by almost 1,200 businesses in the Nordic region, and we see a significant untapped market potential for this type of software solutions,” says Sten Roger Karlsen, CEO of Ørn Software.

The company wants to grow, and prior to the listing, the company raised NOK 250 million by issuing new shares.
"In a few years, Ørn should be positioned as a leading European player in our segment. By including more companies in the Ørn family, we strengthen our product portfolio and can meet an even broader need among our customers. It also gives us access to new customer groups, and thus opportunities for organic growth through cross-selling. With a strengthened capital base and solid new owners, we have the framework in place to be able to succeed with growth going forward,” Karlsen continues.

The share issue totalled NOK 350 million, and included NOK 250 million in new shares and NOK 100 million in sales of existing shares. In addition, there was an over-allotment (greenshoe option) bringing total proceeds raised in the offering to NOK 385 million, announced the company.

“We are impressed by what the Ørn-team has achieved, and we think they are well positioned for future growth as they have a strong technology and financial platform,” says Joar Welde, Chairman of the Board of Directors of Ørn Software.

The shares in the new issue were sold at NOK 10.50 corresponding to a market capitalisation of NOK 902 million.

About Ørn Software
Ørn Software develops SaaS (Software as a Service) solutions. Strong organic revenue growth is supported by M&A, and approximately 85 percent of sales are annual recurring revenues. Asset-heavy industries use the software to increase efficiency, reduce environmental footprint and comply with regulations. A broad portfolio of digital tools lets the users improve operational efficiency and sustainability, resulting in reduced costs, increased uptime and extended asset lifetime.

Press Release Footer

About Euronext
Euronext is the leading pan-European market infrastructure, connecting European economies to global capital markets, to accelerate innovation and sustainable growth. It operates regulated exchanges in Belgium, France, Ireland, Italy, the Netherlands, Norway and Portugal. With nearly 1,900 listed issuers and around €6.3 trillion in market capitalisation as of end September 2024, it has an unmatched blue-chip franchise and a strong diverse domestic and international client base. Euronext operates regulated and transparent equity and derivatives markets, one of Europe’s leading electronic fixed income trading markets and is the largest centre for debt and funds listings in the world. Its total product offering includes Equities, FX, Exchange Traded Funds, Warrants & Certificates, Bonds, Derivatives, Commodities and Indices. The Group provides a multi-asset clearing house through Euronext Clearing, and custody and settlement services through Euronext Securities central securities depositories in Denmark, Italy, Norway and Portugal. Euronext also leverages its expertise in running markets by providing technology and managed services to third parties. In addition to its main regulated market, it also operates a number of junior markets, simplifying access to listing for SMEs.
For the latest news, follow us on Twitter (twitter.com/euronext) and LinkedIn (linkedin.com/euronext).

_Disclaimer
_{This press release is for information purposes only and is not a recommendation to engage in investment activities. This press release is provided “as is” without representation or warranty of any kind. While all reasonable care has been taken to ensure the accuracy of the content, Euronext does not guarantee its accuracy or completeness. Euronext will not be held liable for any loss or damages of any nature ensuing from using, trusting or acting on information provided. No information set out or referred to in this publication may be regarded as creating any right or obligation. The creation of rights and obligations in respect of financial products that are traded on the exchanges operated by Euronext’s subsidiaries shall depend solely on the applicable rules of the market operator. All proprietary rights and interest in or connected with this publication shall vest in Euronext.}

_{This press release speaks only as of this date. Euronext refers to Euronext N.V. and its affiliates. Information regarding trademarks and intellectual property rights of Euronext is located at}_{www.euronext.com/terms-use}_.