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Preliminary subscription result for Hydro's offering of Yara shares

March 24, 2004, 16:30 CET

At the end of the offering period, Wednesday 24 March 2004 at 1600 CET, the Managers had registered orders with a total value of approximately NOK 48 billion. This implies an oversubscription of the total maximum number of shares by approximately 18 times.

Final details relating to the 20% offering of Yara shares will be given in a separate news release before the opening of the Oslo Stock Exchange tomorrow.

Allotment to each institution will among other factors be based upon the assumed quality of the institution, assumed time-frame for the investment and the order size considering sector focus. Other factors may include investment history, indications given in the pre-marketing period, level of price indications, and the timing of the order placement(s). In addition, shareholdings in Hydro may have a positive impact on the allotment. 

All subscribers in the retail offering that have subscribed for an amount up to NOK 200,000 will receive full allocation.