Scatec Solar completes IPO after delay


Norway's Scatec Solar has today announced that it has successfully completed the bookbuilding period for the initial public offering (IPO) of shares in the company following a delay and drastic share price cut.

Earlier this week, shares in the company were offered at NOK 19 ($2.94), falling from NOK 28-36 ($4.42-$5.68) last week. The closing date to apply for these shares was also extended from Monday, September 29, to today, with the Scatec Solar’s shares now expected to begin trading on the Oslo Stock Exchange tomorrow – Thursday October 2.

The new IPO comprises 36,315,790 shares, of which 10 million were existing shares. This figure places the company's valuation at NOK 1.28 billion ($199 million), which is around $100 million below its previous valuation. Gross proceeds from the new shares issued amount to NOK 500 million ($78 million), with the total offering over-allotted at NOK 794 million ($123 million).

Popular content

At the completion of the IPO, Scatec AS will own 20,881,116 shares (a 22.3% share), with ITOCHU owning 20.5 million (a 21.8% share). Various smaller subsidiaries of Scatec Solar – such as Scatec Solar Ansatte – own the remaining shares.

The new registered share capital is to go by the name of SSO on the Oslo Stock Exchange, and will begin trading under that name from midday tomorrow (CET).

This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact:


Related content

Elsewhere on pv magazine...

Leave a Reply

Please be mindful of our community standards.

Your email address will not be published. Required fields are marked *

By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.

Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.

You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.

Further information on data privacy can be found in our Data Protection Policy.