Press release | Date: 13/05/2019 | Ministry of Finance| No: 33/2019
The Ministry of Finance has approved the applications of Euronext N.V. and Nasdaq AB to acquire shares in Oslo Børs VPS Holding ASA.
The Ministry of Finance considers Euronext N.V. and Nasdaq AB to be suitable owners in accordance with the Securities Trading Act and Securities Register Act.
A condition for the approval is to acquire the shares within six months.
The Ministry of Finance emphasizes the importance of continued safeguarding of some aspects of particular significance for the Norwegian securities market, and that these aspects will be followed up in the supervision of Oslo Børs ASA and Verdipapirsentralen ASA:
Equity certificates for saving banks
The Ministry of Finance underlines that equity certificates are important for the Norwegian financial market, and expects that the applicant will facilitate continued admission to trading of equity certificates, including necessary adaptations of trade systems and rules.
Safeguarding of the Norwegian SME-market
The Ministry of Finance refers to the applicant’s information about continuation and development of the Norwegian SME-market, and expects the applicant to act in accordance with the information given in the application.
Local representation on the board
The Ministry of Finance underlines the importance of independent, local representation on the boards of Oslo Børs ASA and Verdipapirsentralen ASA, and assumes that the FSA will emphasize competence related to the Norwegian capital market in the ordinary suitability assessment of board members.
There are no quantitative ownership restrictions.
Oslo Børs ASA is owned by Oslo Børs VPS Holding ASA, which is also the owner of Verdipapirsentralen ASA and Oslo Market Solution AS. The three largest shareholders in Oslo Børs VPS Holding are DNB Livsforsikring ASA owning 19,82 percent of the shares, Kommunal Landspensjonskasse (KLP) with 10,00 percent and Pareto Invest AS with 8,52 percent. According to Oslo Børs VPS Holding’s list of shareholders, Euronext is the owner of 8,12 percent of the shares and Nasdaq owns 1,96 percent.
Oslo Børs ASA is operating four marketplaces: The stock exchange Oslo Børs, the regulated market Oslo Axess and the multilateral trading facilities Merkur Market and Oslo Connect. In addition, the company operates Nordic ABM (Alternative Bond Market), which is an alternative marketplace for listing and trading of fixed income products.
Oslo Børs owns 97 percent of the shares in Fish Pool ASA, which is a regulated marketplace for commodity derivatives with fish and seafood as underlying products, and 100 percent of the shares in NOTC AS, which operates a trading support system for unlisted shares.
Oslo Børs was privatized in 2001, and the Norwegian state owns no shares in the company.