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Statoil shares in demand

July 19, 2004, 15:30 CEST

The Norwegian government sold almost all the Statoil shares it put up for sale to private investors in the period 12-16 July.

In all 16.76 million shares were sold, at a total value of more than NOK 1.4 billion. Some 7,300 private investors bought shares in the five-day period.

"It is positive that the sale mobilised so many private buyers," says Mari Thjømøe, vice president for investor relations in Statoil. "It shows that there is considerable interest in Statoil in the market."

Private individuals could purchase from 50 to 10,000 shares, at NOK 85 per share.

DnB NOR Markets was responsible for organising the sale.

On 6 July the state sold 100 million shares to institutional investors through the US global investment bank Lehman Brothers. Following the latest sale organised by DnB NOR, which was aimed at smaller private investors, the privately-owned proportion of shares in Statoil has increased from 18.3 to 23.7 per cent.