OSLO - Norway’s Adevinta completed a long-planned initial public offering on Tuesday, valuing the fast-growing online classified ads group at more than 53 billion Norwegian crowns ahead of its market debut on Wednesday.
A spin-off from media company Schibsted, Adevinta has set its sights on mergers and acquisitions in Europe, South America and North Africa, the newly formed company’s chief executive told Reuters late last year. While vote-heavy ‘A’ shares were not sold in the IPO, the share class typically attracts a premium to the ‘B’ shares, potentially giving Adevinta an overall market value of 55 billion crowns, a Reuters comparison with Schibsted showed.
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