- FINANCE, STRATEGY AND REPORTING
Or , our new artificial intelligence tool.
San Donato Milanese (Milan) / Stavanger, 4 February 2022 – Further to the announced Intention to Float published on 24 January 2022, Eni and HitecVision have resolved to launch an initial public offering of shares in Vår Energi. Subject to approval of the listing application and successful completion of the Offering, the shares of Vår Energi will be admitted to listing and commence trading on Oslo Børs on 16 February 2022.
Vår Energi Shares will be offered for sale within an indicative price range of between NOK 28.00 and NOK 31.50 per Offer Share, corresponding to an equity value of Vår Energi of between NOK 70 billion and NOK 79 billion.
The Offering consists of an offer up to 220,000,000 existing shares and an upsize option up to 55,000,000 additional existing shares, both offered in equal parts by the Company's shareholders Eni and HitecVision. Further details are available on www.varenergi.no.
For Eni, the operation is part of its strategy of enhancing its assets in order to free up new resources to be allocated to accelerate the energy transition strategy. Eni will continue to retain a majority stake in the Company, while preserving equity accounting.
Furthermore, Vår Energi has today announced an update to its previously communicated dividend policy for 2022. In late 2021, Vår Energi determined a dividend of minimum USD 700 million for 2022. In addition, Vår Energi communicated a dividend of USD 200 million for Q1 2022. Considering the current market conditions and the outlook for a continued supportive commodity price environment and Vår Energi’s strong cash flow generation, the Company has decided to increase its dividend guidance for the full year 2022 to a minimum of USD 800 million, and the Q1 2022 dividend to USD 225 million. As a further reflection of the strong cash flow generation currently enjoyed by Vår Energi (including the positive movement in certain working capital elements in January), the Company’s preliminary calculation of its net interest bearing debt as of 31 January 2022 decreased to approximately USD 3.9 billion, from USD 4.6 billion at 31 December 2021.
Eni, through Eni International BV, and HitecVision, through its company Point Resources Holding, own respectively 69.85% and 30.15% of Vår Energi AS.
All offers and sales outside the United States will be made in compliance with Regulation S of the U.S. Securities Act.
If you want to change topic, clear the chat and make a new query to receive more relevant results.
This will delete the question history.
If you want to change topic, clear the chat and make a new query to receive more relevant results. This will delete the question history.
Here you can find the full list of your queries.
The answers are generated by artificial intelligence, therefore they may contain inaccuracies. Please read the terms and conditions of use.
EnergIA is an innovative tool based on artificial intelligence capabilities, which can help you navigate the contents of eni.com, quickly finding answers to your questions. EnergIA can also perform a search on a specific topic, providing the most up-to-date data available, or it can invite you to delve deeper into a topic of your interest by suggesting links and specific readings. Start now!
EnergIA is an innovative tool based on artificial intelligence capabilities, which can help you navigate the contents of eni.com, quickly finding answers to your questions. Start now!
EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
By using this service, the users acknowledge that they have read and accepted the terms and conditions of use.
Search
EnergIA (ener'dʒia) is a system based on Generative Artificial Intelligence.
Thanks to this technology, we can respond to your requests by querying the most relevant content and documents available on eni.com. (Note: financial documents from the last 12 months and press releases from the last 2 years are considered.)
Through EnergIA, you can delve into topics of interest and have a real-time window into the world of Eni.
If you wish to search for a specific document, press release or news, use the traditional search engine via the magnifying glass icon.
Like all systems that leverage Generative Artificial Intelligence, EnergIA may generate inaccurate or outdated responses. Always consult the sources that EnergIA proposes as the origin of the generated information.
If the system fails to find an exact match for the requested content, it still tends to provide a response.
If you find any inaccuracies in the provided response, please send us your feedback at the bottom of the page: it will be very helpful for us to improve.
Remember that the content generated by the system does not represent Eni’s official position. We therefore invite stakeholders to refer to their designated contacts for official statements: Press Office for journalists, Investor Relations for analysts and investors, Company Secretariat for shareholders etc..
EnergIA can understand questions posed in almost all languages, but we prefer to provide you with a response in English or Italian, the two languages available on eni.com. If you ask a question in Italian, the content on the site in Italian will be consulted. If you ask it in English or any other language, the content in English will be consulted. (Note: the language Eni uses for financial documents/content is predominantly English.)
If questions are formulated that violate the set security criteria, the system will not proceed with processing the response. Please remember not to send personal data.
By using this service, the users acknowledge that they have read and accepted the terms and conditions of use.
A new window into Eni’s world, at your disposal. EnergIA is an innovative tool based on artificial intelligence capabilities, which can help you navigate the contents of eni.com, quickly finding answers to your questions.