Euronext Growth Oslo becomes an Appointed Stock Exchange
About Brian Holdipp
Brian Holdipp is Counsel in the firm’s corporate practice group. His practice encompasses many areas of general corporate and commercial law, with specialist expertise in securities, joint ventures, corporate restructurings and cross-border financings. Mr. Holdipp also advises on partnerships.
Brian Holdipp’s full profile on mjm.bm.
For over 50 years, Bermuda has been a jurisdiction of choice for shipping groups from an incorporation and a financing perspective.
The shipping market in Bermuda has been characterised by a number of listings of Bermuda-incorporated shipping and shipping-related companies on the Euronext NOTC, Euronext Expand (Oslo) and Oslo Børs.
The Minister of Finance of Bermuda recently appointed Euronext Growth Oslo as an appointed stock exchange under the Companies Act 1981. Euronext Growth Oslo (formerly Merkur Market) is a multilateral trading facility, recognised as an efficient way for small and medium-sized companies to raise capital. Euronext Growth Oslo now joins Euronext Expand (Oslo) and Oslo Børs among the appointed stock exchanges situated in one of the world’s leading maritime capitals. Companies listed on an appointed stock exchange avoid having to comply with requirements of the Companies Act that would lead to duplication of regulation. They also benefit from exchange control general permissions granted by the Bermuda Monetary Authority for the issue and subsequent transfer of any equity securities listed on an ‘appointed stock exchange’ from or to a non-resident of Bermuda, for so long as any equity securities of such company remain so listed. Combined, these advantages contribute to the ease of doing business.
The appointment of Euronext Growth Oslo as an appointed stock exchange provides Bermuda-incorporated companies with another means to raise capital in the Norwegian market. Over the years, MJM has built strong working relationships with Norwegian law firms and financial institutions to help ensure a smooth pathway to accessing capital in Oslo.