The Norwegian owner of ferry carrier Color Line is considering an IPO in Oslo.
Color Group writes in an update that it is considering a listing on the Oslo Stock Exchange in order to gain access to more capital which would be used for growth projects.
"We believe investors will appreciate the opportunity for exposure towards the travel and leisure industry in an attractive geographic market," says Color Group CEO, Trond Kleivdal, highlighting that the carrier has a modern and environmentally friendly fleet of ferries.
The current sole owner of Color Group, O.N. Sunde AS, plans to continue as a major shareholder after a potential listing of the ferry carrier.
However, the company emphasizes that it is only considering an initial public offering and that nothing has been decided yet. The carrier has hired major Norwegian bank DNB and Arctic Securities as advisers in the process.
Color Line sails services between Denmark, Norway, Sweden and German, and has a fleet of six ferries.
English Edit: Gretchen Deverell Pedersen