Bluestar reduces shares in Elkem as IPO completed

Oslo – Norway-based silicones producer Elkem ASA has completed a successful initial public offering (IPO) on the Oslo Stock Exchange to finance its growth strategy, it was announced 22 March.

The company, which was acquired by the ChemChina-owned China National Bluestar Group in 2011, said the transaction was “among the largest IPO’s in Norway over the last few years”.

In connection with the IPO, Bluestar reduced its ownership of Elkem from 100% to 61.8% and will continue to be Elkem’s majority shareholder.

“Going public is an important and natural…

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