The listing, under the ticker "AGR", follows an over-subscribed share placing of 27.4 million shares, which raised 500 million NOK in new equity. At today's opening price, the Company has a market capitalization of 3 billion NOK.
Commenting on today's listing, Haakon Berg, Chief Financial Officer of AGR said: "Listing on the Oslo Stock Exchange is an important element in our strategy. We now have access to the capital markets and increased liquidity in the shares through a regulated market place."
Ability Group ASA focuses on four business areas: drilling services, petroleum services, integrity services and project services. The group had a proforma revenue of 1.318 million NOK in 2005. Following recent international acquisitions, the company now has 1,240 employees.
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