EVRY trades with the ticker code “EVRY” at OSE, and the share has been included in the Oslo Stock Exchange Benchmark Index since 1 December 2017. As EVRY operates in the Nordic IT software and services segment, it was also included in the OSE Software and Services Index and OSE Information Technology Index from the same date. As one of the largest listed IT companies in Norway, EVRY is also included in other indices on the Oslo stock exchange, such as the OSE All Share Index, the OSE Mutual Fund Index and the OSE Mid Cap Index.
Share price development since IPO
Proposed dividend per share
|Key shareholder figures||2017|
|Number of shareholders at 31.12.2017||1 592|
|Proportion held by Norwegian shareholders||10%|
|Proportion held by foreign shareholders||90%|
|Largest shareholder, Lyngen Holdco S.A.R.L. (shareholding)||54.3%|
Source: Oslo Børs, Euroland
The EVRY share price
EVRY was listed on 21 June 2017 with an issue price of NOK 31.00 per share. EVRY’s share price rose 4.8 percent in the period between its first day of trading in June and the end of 2017 to close the year at NOK 32.50. As a comparison, the Oslo Stock Exchange Benchmark Index (OSEBX) rose by 16.4 percent over the same period, while the OSE Information Technology Index (OSE45GI) and OSE Software and Services Index (OSE4510GI) delivered returns of 2.9 percent and 7.7 percent respectively. EVRY’s market capitalisation at the end of 2017 was NOK 12.1 billion.
EVRY´s relative share price performance between IPO on 21 June 2017 and year-end 2017
Source: Oslo Børs
Share capital, market capitalisation and shareholder structure
EVRY raised gross proceeds of NOK 3 200 million by issuing 103 225 806 new shares in connection with its IPO in June 2017. At the end of December 2017, the share capital of the company was NOK 649 million made up of 370 806 077 ordinary shares, each with nominal value of NOK 1.75. All ordinary shares have equal voting rights and the same right to receive dividends. The company did not own any of its own shares at 31 December 2017.
EVRY’s total market capitalisation at the end of December 2017 was NOK 12.1 billion based on 370 806 077 ordinary shares and a share price of NOK 32.50 per share.
Lyngen Holdco S.A.R.L., a company indirectly controlled and managed by private equity funds advised by Apax Partners LLP, was the largest shareholder in EVRY at the end of 2017 with a holding of 201.4 million shares, which is equivalent to 54.3 percent of the total issued share capital in the company. Funds controlled and managed by Polygon Global Partners LLP represent the second largest shareholder, albeit with a much smaller percentage holding, while Folketrygdfondet, the Government Pension Fund Norway, is the third largest shareholder.
Investors based in the United Kingdom represent the largest shareholder group with holdings totalling approximately 66 percent of the issued share capital. Shareholders based in Norway represent the second largest group and account for approximately 10 percent of the share capital. Shareholders based in the United States control just under 8 percent of the total share capital. EVRY had 1 592 registered private and institutional shareholders at the end of 2017, with foreign investors’ holding approximately 90 percent of the share capital.
|Number of shares issued at year-end||370 806 077|
|Average number of shares at year-end||319 072 529|
|No. of shares traded since IPO (million shares)||76.4|
|Average daily trading volume since IPO (thousand shares)||561.4|
|Number of trading days since IPO||136|
|Share price at IPO (NOK/share)||31.00|
|Share price at year-end (NOK/share)||32.50|
|Highest closing share price (NOK/share)||33.90|
|Lowest closing share price (NOK/share)||28.00|
|Volume weighted average share price since IPO (NOK/share)||30.90|
|Change in share price since IPO||4.8%|
|Change in OSE Benchmark Index since IPO||16.4%|
|Change in OSE Information Technology Index since IPO||2.9%|
|Change in OSE Software and Service Index since IPO||7.7%|
|Adjusted earnings per share for the year (NOK)||2.82|
|Proposed dividend per share (NOK)||1.25|
|Market capitalization year-end (NOK billion)||12.1|
Source: Oslo Børs, Euroland, EVRY ASA
Trading volume from IPO
Due to the significant shareholdings held by EVRY’s two major shareholders, Lyngen Holdco S.A.R.L. and funds controlled and managed by Polygon Global Partners LLP (both shareholders prior to the IPO), only a relatively small proportion of EVRY shares are available for trading, and trading volumes were relatively low in 2017. The total number of shares traded in the period between EVRY’s IPO in June 2017 and the end of 2017 was 76.4 million, which is equivalent to 20.6 percent of the total outstanding shares in the company. 561 000 shares were traded on average each day, equivalent to 0.2 percent of the issued shares.
At the end of 2017, the EVRY share was covered by six financial analysts/brokerage houses, two of which are based in Norway. EVRY is committed to providing relevant and complete information and to ensuring that all analysts are always treated on an equal basis. Day-to-day contact with investors and analysts is handled by the EVRY’s Investor Relations department.
List of analysts covering the EVRY share at 31 December 2017
|ABG Sundal Collier ASA||Aksel Øverland Engebakken|
|Credit Suisse International||Charles A. Brennan|
|DNB Bank ASA||Christoffer Wang Bjørnsen|
|Goldman Sachs International||Gautam Pillai|
|Morgan Stanley & Co. International plc||Adam Wood|
|UBS Investment Bank||Michael Briest|
EVRY intends to adopt a long-term dividend policy based on a pay-out ratio of more than 60 percent of the Group's adjusted net income. The proposal to pay dividend in any year is further subject to any restrictions under the company's borrowing arrangements and/or other contractual arrangements in place at the time. There can be no assurance that a dividend will be proposed or declared in any given year. If a dividend is proposed or declared, there can be no assurance that the dividend amount will be as contemplated above.
EVRY’s Board will propose to the Annual General Meeting the payment of a dividend for 2017 of NOK 1.25 per share, which represents 44 percent of 2017 adjusted total profit/-loss of the year. The proposed divided for 2017 represents a total payment of NOK 464 million on the basis of the number of shares outstanding at 31 December 2017.
EVRY is committed to providing the financial markets with precise, relevant, timely and consistent information. EVRY has introduced an investor relations policy in accordance with the Oslo Børs Code of Practice for IR as of 1 March 2017. The purpose of EVRY’s IR policy is to ensure that the company complies with all official rules and regulations that apply to financial reporting and communication in the Norwegian financial market, and that it meets market participants’ expectation to be provided with information on a timely and equal basis.
EVRY is committed to open dialogue with market participants, including shareholders, investors and analysts. All information that may be significant, relevant and price-sensitive for the capital markets is distributed in the form of stock exchange announcements published through Oslo stock exchange, as well as media and/or press releases.
20 largest shareholders at 31 December 2017
|Shareholder||Shares||% of shares|
|Morgan Stanley & Co. Int. PLC.*||201 410 067||54.32|
|Polygon (PE) Holdings LTD||19 444 554||5.24|
|Folketrygdfondet **||18 670 507||5.04|
|The Bank of New York Mellon SA/NV||9 961 215||2.69|
|State Street Bank and Trust Comp||8 419 557||2.27|
|Northwestern Trust Global Services LTD||4 715 352||1.27|
|State Street Bank and Trust Comp||4 686 622||1.26|
|Invesco Funds Series 4||4 678 139||1.26|
|Danske Bank A/S||4 114 404||1.11|
|Credit Suisse Securities (USA) LLC||4 034 600||1.09|
|State Street Bank and Trust Comp||3 966 812||1.07|
|Arctic Funds PLC||3 058 531||0.82|
|Skandinaviska Enskila Banken||3 005 087||0.81|
|Arctic Funds PLC||2 671 145||0.72|
|Credit Suisse Securities (Europe)||2 650 368||0.71|
|Merrill Lynch International||2 535 000||0.68|
|Tredje AP-Fonden||2 504 901||0.68|
|UBS AG||2 459 581||0.66|
|Morgan Stanley & Co. Int. PLC.||2 418 248||0.65|
|State Street Bank and Trust Comp||2 407 095||0.65|
|20 largest shareholders total||307 811 785||83.01|
* Lyngen Holdco S.A.R.L controlled 54.3% of the shares in EVRY ASA as of 31 December 2017, held through a custody account with Morgan Stanley & Co. Int. PLC. Lyngen Holdco S.A.R.L is indirectly controlled by private equity funds advised by ApaxPartners LLP.
** The government pension fund Norway.
Björn Ivroth rings the bell at the start of the day’s trading at Oslo stock exchange, making EVRY’s listing a reality. From the left: Henrik Schibler, Björn Ivroth, Øivind Amundsen (Oslo Børs), Göran Lindahl and Wiljar Nesse.
Shareholding distribution by geography at 31 December 2017
|Country||Number of shares||Percentage of total share capital||Number of shareholders||Percentage of total shareholders|
|United Kingdom||243 680 809||65.7||40||2.5|
|Norway||36 243 163||9.8||1 350||84.8|
|United States||28 870 364||7.8||35||2.2|
|France||15 698 470||4.2||15||0.9|
|Sweden||14 188 935||3.8||52||3.3|
|Ireland||11 021 002||3.0||16||1.0|
|Australia||4 455 781||1.2||6||0.4|
|Luxembourg||4 344 273||1.2||12||0.8|
|Belgium||2 946 157||0.8||7||0.4|
|Other||9 357 123||2.5||59||3.7|
|Total||370 806 077||100||1 592||100|
Shareholding distribution by geography 31 December 2017