Eni announces the completion of secondary placement of existing shares in Vår Energi ASA
09 June 2022 - 8:00 AM CEST
San Donato Milanese (Milan), 9 June 2022 – Eni announces secondary placement of 5.0% of existing share capital in Vår Energi ASA was successfully completed by Eni and HitecVision (selling 1.2% and 3.8% respectively) at NOK 40.2 per share, totaling USD 530 Million of proceeds. As a result, the free float will increase from 11.2% to approximately 16.2%. The sale takes place through an accelerated book building process.
Francesco Gattei, Eni’s Chief Financial Officer, commented: “This operation confirms the success of Vår Energi’s listing and the effectiveness of our strategy in setting up satellite companies with the ability to access the markets independently, generating value. The excellent trend in the share performance of Vår Energi, which recorded an increase of over 60% three months after the listing, has unlocked the opportunity to place on the market additional shares thus increasing the liquidity on the stock and further consolidating and expanding the shareholder base of institutional investors.”
After the placement, Eni owns 1,574,616,035 shares in Vår Energi ASA, representing approximately 63.1% of the shares outstanding and votes in the company.
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In connection with the offering of the shares of Var Energi ASA (the “Shares”), the Managers and any of their affiliates acting as an investor for their own account may take up as a proprietary position any Shares and in that capacity may retain, purchase or sell for their own account such Shares. In addition the Managers or their affiliates may enter into financing arrangements and swaps with investors in connection with which the Managers (or their affiliates) may from time to time acquire, hold or dispose of Shares. The Managers do not intend to disclose the extent of any such investment or transactions otherwise than in accordance with any legal or regulatory obligation to do so.
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