The case has been updated.
Schibsted's categorization company Adevinta made its first visit to Oslo Stock Trading Wednesday with a strong increase in the share price, which understands the company near NOK 60 billion.
The largest stock exchange list from Telenor 19 years ago, with the third largest ever in Norway.
– I am delighted, it has been a long journey since we named this in September, saying that the leader of Adevinta Rolv Erik Ryssdale is to E24.
On the IPO, Schibsted on auctions Adevinta B has been sold for NOK 2.66 billion to NOK 78 in each share, so keeping an interest of 60% in the new company.
On Wednesday, share B will be exchanged 13 per cent to NOK 87. So the company has been valued at NOK 59.5 billion.
Adevinta is divided into categories A and B, but will be amalgamated into one group by the end of the year.
Viewing promotional opportunities in Europe
"We now have the flexibility to get more in because we have a good balance, and we also have the opportunity to provide more shares, if that is necessary," said Adevinta manager.
– We need the tool box required to join in further confirmation, he said.
The company has digital markets in 16 countries in Europe, Latin America and North Africa, with around 1.5 billion per month.
"Our main sectors are Europe and Latin America, and especially in Europe we can still do a lot – we will follow it close," said Richard.
It emphasizes that it's not only relevant to buy in new countries, but also that there is already a market presence in the market that they are already working with.
– We are in three main areas; Buildings, work and cars are all attractive. Today we have the best chance of a real estate and we also have a great faith in the future. In addition, there are a number of special markets, such as new buildings and holiday homes, which also look.
Adevinta is committed to an income growth of 15-20 per cent over time, which has long been a focus for digital digital services.
Concerns about the competition with global giants
Adevinta so far has been successful in competition with world IT giants such as Facebook, Google and Amazon.
– We have always been worried and are following them closely. We will continue to do that, which means we are setting higher speed for developing the product itself.
Category A Schibsted falls by almost 30 per cent on Tuesday to NOK 244.6, and it was considered that investors would prefer the new company's growth objectives.
– When I attend investment meetings, I think both companies are interested in investing in Norway and abroad, say Richard.
Because of orders: E24 is a subsidiary of VG, which is owned by Schibsted. Some E24 staff have Schibsted sections through the Group's departmental savings program.