Four New Oil Sector Companies to List on Oslo Exchange Friday

OSLO Mar 29, 2007 (Dow Jones Newswires)

Four new oil sector companies are to list on the Oslo stock exchange Friday, the exchange operator Oslo Boers Holding ASA (OSLO.NO) said Thursday.

ElectroMagnetic Geo-Services, or EMGS, Nexus Floating Production, Wavefield Inseis and Rem Offshore will have their first day of listing Friday from 0700 GMT.

The newest additions to the exchange take the total of new listing in the first quarter of 2007 to 11 companies, Oslo Boers said.

"Oslo Boers is experiencing greater interest in stock exchange listing than ever before, and several companies are in the process of applying for listing," the exchange operator said in a statement.

Earlier this month, Oslo Boers Chief Executive Bente Landsnes said in an interview with Dow Jones Newswires that there was a 60%-70% increase in traded volumes over the exchange in 2006 compared with 2005. In 2007 to date, volumes are up 40% on the year.

Landsnes also said she expected to see more than 40 new listings in the coming months. Around half of these will be oil or oil services companies, and the other half will be from a range of sectors, including Internet technology, biotechnology and fisheries firms.

Oslo Boers' biggest shareholder is DNB Nor ASA (DNBNOR.OS), with a 19.67% holding, while OMX (OMX.SK) holds 10%, Fidelity Fund (FFIDX) 10%, KLP Forsikring 9.76%, Norsk Hydros Pensjon 8.31% and Orkla ASA (ORK.OS) 5.01%.

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