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Noreco adds $100M to Oslo fundraiser


Published Oct 22, 2007
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Oslo Bourse

Recently enlarged Norwegian Energy Co., or Noreco, has decided to raise at least NOK550 million ($102.2 million) on Oslo after, in a move that’ll combine with a listing earlier in October to value the company at NOK3.68 billion ($684 million).

Noreco recently gobbled up North Sea player Altinex, and boast much exploration upside on both sides of the Norway-UK border.

The well-run placement to institutional investors looks set to be followed by a listing to the public of NOK10 million.



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