Edda Wind's $116m Oslo IPO over-subscribed in 15 minutes

Managers say even over-allotment shares snapped up in strong showing for offshore wind vessel company

16 November 2021 12:19 GMT Updated 16 November 2021 12:31 GMT

By Gary Dixon

in London

Edda Wind has more than sold out an initial public offering (IPO) of shares in Oslo just 15 minutes after its launch.

Bookbuilding opened at 0900 (0800 GMT) Oslo time on Tuesday and by 0915, Edda Wind had told the Oslo bourse that its investment bank managers had received orders meaning the transaction and its over-allotment option for shares was already over-subscribed.