Deals
Var Energi Valued at $9.1 Billion in Rare Big Energy Listing
- New stock is scheduled to start trading in Oslo on Feb. 16
- Rising oil prices, search for yield boost energy shares
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Eni SpA and HitecVision AS are seeking as much as 6.9 billion kroner ($800 million) from an initial public offering of their Norwegian joint venture, in one of the largest European energy listings in a decade.
Var Energi AS, which was formed by the 2018 merger of Eni Norge and Point Resources AS, is valued at as much as 79 billion kroner in the Oslo listing. The offering will be a crucial test of investor appetite for oil and gas companies after years of poor returns soured sentiment toward the industry.