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Rana Gruber lists on Euronext Growth Oslo

After a secondary sale of NOK 925 million Rana Gruber is now traded on Euronext Growth (ticker code: RANA).
Foto: Euronext/Oslo Børs

Rana Gruber is a Norwegian iron ore producer and supplier, refining products applicable to numerous use cases in multiple industries.

“Our iron ore is a natural raw material, without chemicals, critical for building the infrastructure we as a society needs. The interest from new investors has been overwhelmingly large and positive. We enter 2021 with an even firmer belief in ourselves, and a foundation of investors that have faith in Rana Grube and what we seek to accomplish,” says Gunnar Moe, CEO of Rana Gruber.

The offering ahead of the listing was oversubscribed multiple times with a demand several times higher than the number of available shares. Former sole owner LNS Mining continues as majority owner, now with a wider base of investors alongside it.

“The goal has been to expand our investor base all the while continuing to tend to our northern Norwegian roots. Therefore, it’s particularly pleasant to see that so many of our employees decided to sign up for the offering. It’s an important signal that also they firmly believe in the direction Rana Gruber is headed,” continues Moe.
The shares in the new offering were sold at NOK 49.50 corresponding to a market capitalisation of NOK 1.85 billion.

The company had a turnover of NOK 1.3 billion, and an EBITDA of NOK 677 million in 2020. Rana Gruber has the lowest CO2-imprint amongst all iron ore producers in the world and aims to make the production completely CO2-free by 2025.

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