Money

Schibsted daughter on stock exchange for just over 50 billion

Schibsted’s classified company Adevinta is valued at over 50 billion when it goes on stock exchange Wednesday. It is the fourth largest stock exchange listing ever in Oslo.

Schibsted has divested its classified activities outside the Nordic region in a new company that is listed on Wednesday. The latest updates value the company between NOK 51 and 54 billion, writes Finansavisen .

The listing is thus the largest since REC went on stock exchange in 2006. Only Equinor and Telenor have been larger at listing.

Schibsted plans to sell down to a 60 per cent stake in the new company. The day before the listing, Schibsted sold Adiventa shares just under NOK 2.66 billion. The Tinius Foundation’s company Blommenholm Industrier sold shares for 222 million, writes E24 , which is also part of the Schibsted Group, and refers to a stock exchange announcement.

Adevinta will operate digital marketplaces in 16 countries in Europe, Latin America and North Africa.

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