The Norwegian equity capital market – a review of 2018

2018 as a whole has been a challenging year for the Norwegian capital market. As in many other places, stock prices have not been as volatile since the 2011 financial crisis, affecting returns as well as IPO activity during the Q4.

New regulatory initiatives and changes impacted the market. A revised Corporate Governance Code came into force, and the Oslo Børs subsidiary, NOTC, launched a new list for start-up companies and family businesses. The OSE continued to closely monitor the listed entities’ information and disclosure practices, and sanctioned violations. It also resolved that the issuing of so-called “death spiral loans” by companies would make them unsuited for listing.