Accommodation vessel owner Jacktel commences trading on Euronext Growth

The first day of trading in the company’s ordinary shares follows a successful private placement earlier in March. The company’s preference shares are not part of the listing.

Jacktel owns 100% of Haven, which has a unique market position in the offshore accommodation market as the only harsh environment, Norwegian Continental Shelf-compliant, jack-up rig.

Haven was built in 2011 and has accommodation for up to 444 people. The unit has an extensive track record working with leading clients in Norway and Denmark. The commercial and technical manager for Haven is Macro Offshore Management.

Jacktel was listed through the admission to trading of 207,531,066 issued and outstanding ordinary shares. The private placement before the listing raised gross proceeds of Nkr29.2M (US$3.0M).

The private placement was significantly oversubscribed and attracted substantial interest from more than 200 new investors, including a dedicated retail tranche. At market opening today, the share price was Nkr4.20 per share, giving the company a market capitalisation of Nkr871.6M.

Jacktel chairman Harald Thorstein said, “We are pleased to welcome all new and existing Jacktel shareholders to Euronext Growth Oslo. The board of Jacktel believes Haven will be an important asset, supporting critical projects and infrastructure in the offshore energy markets going forward. Quarterly dividend payments will be an essential part of our commitment to creating value for our shareholders.”    

The company has been registered on Euronext NOTC, the Norwegian marketplace for unlisted shares, since April 2022.