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Rana Gruber, one of the largest mining and iron ore beneficiation companies in Norway, today announces a contemplated secondary sale and listing on Euronext Growth in Oslo, with the ambition of a listing at Oslo Børs’ main list within 12 months.
Rana Gruber is a Norwegian sustainable iron ore producer and supplier established in 1964, with operations based on more than 200 years of mining experience. The company refines products applicable to numerous use cases in multiple industries. The products are based on our own natural mineral resources which are upgraded and tailored for applications and exported to its customers worldwide.
“We have a leading position with more than 200 years of mining experience, a vast resource base and ambitions to become the first CO2-free iron ore producer by 2025. I’m proud of all my colleagues and the job we are doing every day, providing customers in various industries with iron ore for use in cars, buildings, and other consumer goods. A listing of the shares will enhance access to a diverse capital base, while at the same time maintaining a strong backbone of northern Norwegian capital with LNS Mining as the main owner,” says Gunnar Moe, CEO of Rana Gruber.
The company has engaged Clarksons Platou Securities AS, DNB Markets and SpareBank 1 Markets AS to advise on and effect a contemplated secondary sale of up to NOK 925 million in existing shares in the company. The secondary sales is directed towards professional investors.
“The planned listing on Euronext Growth Oslo will create an opportunity for new investors to take part in Rana Gruber’s development and value creation together with existing owners. The company’s fully invested infrastructure allows for strong cash generation and an attractive dividend policy. The listing also facilitates a more efficient capital structure for both Rana Gruber and its current owner,” says Morten Støver, Chairman of the Board of Rana Gruber and Chairman of the Board of LNS Mining AS.
See attached for today’s stock market announcement: Download PDF file