The Ability Group Begins Trading on Oslo Stock Exchange

The Ability Group

The Ability Group ASA (AGR) of Norway reports that its shares began trading on the Oslo Bors Stock Exchange today with an opening price of NOK 47.

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.