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Color Group considers returning to Oslo bourse

Color Group, the privately owned Norwegian company that owns the cruise and ropax ferry operator Color Line, may return to the Oslo stock exchange after a break of almost two decades.

"We believe investors will appreciate the opportunity for exposure towards the travel and leisure industry in an attractive geographic market,” Trond Kleivdal, Group President in Color Line AS, said in a statement.

“Following significant investments and streamlining of operations, Color Line is today a well-run company that combines growth, profitability and dividend capacity with innovative environmental initiatives. The company has a modern fleet of vessels and is building the world's largest plug-in hybrid ferry," he said.

A listing will increase Color Group's ability to fund further growth projects, the company said, but added that no decision has been regarding whether or not an IPO would take place. In the past, the company has aired plans about entering the deep sea cruise sector.

Presently fully owned by O.N. Sunde AS, an investment company, Color Group could be worth NOK11 billion to 12 billion, according to a report in the Finansavisen business daily. Sunde could reduce his stake to below 50% of the shares in the company, the report said.

 

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