Company Begins Trading on the Oslo Stock Exchange. CEO Hans-Petter Mellerud looks forward to rewarding investors’ high expectations after shares publicly listed for the first time.
Shares of Zalaris ASA (OSE: ZAL) began trading publicly for the first time Friday morning on the Oslo Stock Exchange, marking the beginning of a new era for the Oslo-based provider of outsourced cloud-based HR and payroll services.
CEO Hans-Petter Mellerud called in the traditional opening bell to open the trading for Zalaris, which plans to use the additional capital to accelerate revenue growth and add resources to more effectively serve its increasing customer base.
Prior to the IPO, Zalaris raised NOK 50 million in a private placement and existing shareholders sold a limited number of shares. The stock initially listed at a price of NOK 23, for a total market capitalization of approximately NOK 440 million.
Securing the Future
The initial public offering capped off months of preparations by Zalaris to acquire funding to help the company secure the next stage of its growth strategy.
“It has been a hectic period. I would like to thank everyone that has worked extra hard the last several months to make this happen – both at work and the families at home. It will now be important to deliver on the expectations we have created throughout this process,” Mellerud said.
Zalaris, founded in 2000, has emerged as the leading provider of HR and payroll services in the Nordic and Baltic regions, signing long-term contracts with numerous blue-chip companies including Nordea Bank AB, TeliaSonera AB and Telenor Group. Last April, Zalaris signed a five-year agreement with Statoil ASA to begin delivering payroll services in the second half of the year.
“It is important that we continue to deliver outstanding services to our long term clients. This offering allows us to ensure our current customers are completely satisfied when it’s time for them to extend their contract and also to attract additional enterprise customers all over the Nordics,” Mellerud said. “I look forward to spend more time working directly with the clients again.”
Contact information:
Hans-Petter Mellerud (CEO)
hans-petter.mellerud@zalaris.com
+47 928 97 276
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