ABG Sundal Collier acted as joint bookrunner in connection with the NOK 953 million private placement in TGS ASA

On the morning of Monday 18 September 2023, TGS ASA and PGS ASA announced having reached a merger agreement. Following a share price appreciation of 8.7%, TGS announced a private placement after market close of 6.25m shares, corresponding to 5% of the share capital. The transaction was priced at NOK 152.50 per share, corresponding to a 4.9% discount versus the closing price on OSE on 18 September 2023, and a premium to the intraday VWAP. The transaction attracted significant interest from local and international high-quality investors and was multiple times oversubscribed.
ABG Sundal Collier acted as joint bookrunner in the transaction.