Telenor’s Share and Shareholders
On 4 December 2000, Telenor was listed on the Oslo Stock Exchange (Oslo Børs) and the Nasdaq in New York. In what was then the largest ever IPO in Norway, Telenor offered more than 372 million shares for sale, with an opening price of NOK 42. Following the IPO, the ownership of the Norwegian government in Telenor was 79 per cent. Telenor gained 55 000 new shareholders, of which 53 000 were private, and the majority Norwegian.
Today, Telenor is still listed on the Oslo Stock Exchange (delisted from Nasdaq in 2007) and the shares are freely negotiable. Telenor has one class of shares, and each share equals one vote at the General Meeting. The shares have no trading restrictions in the form of Board consent or ownership limitations. The Articles of Association of Telenor ASA contain no restrictions on negotiability or voting rights and all shares have equal rights.
The Norwegian State is the main shareholder in Telenor, with a holding of 53.97 % of the Telenor shares as of 31 December 2020. The Norwegian Ministry of Trade, Industry and Fisheries manage the ownership interest. The Norwegian State emphasises that partly state-owned companies should comply with principles for good corporate governance.
More information about administration of the Norwegian State’s ownership interests and the Government’s Ownership Policies can be found on the Government’s web pages.