Euronext increasing its offer for Oslo Bors?

The European Euronext is considering increasing its offer for Oslo Bors. According to Bloomberg News, the updated offer could be published during this week and one option is still, that no increase is made.

The parties have declined to comment the matter, but the Nasdaq Stock Exchnage made an offer in January to buy the Oslo Bors for 152 kroner per share, while the earlier offer by Euronext was 145 kroner per share.

Oslo Bors is one of the last independent stock exchanges in Europe with the average daily trading of 5,4 billion kroner. The number of trades increase over 25 % last year and the energy sector was the biggest industry sector in Olso. Oil companies represent about 35 % of the combined market capitalisation.

 

 

Business Finance

The Nasdaq Nordic and Baltic Stock Exchanges to implement ESG reporting

canstockphoto4076117The Nordic and Baltic Nasdaq Stock Exchanges have decided to join the global initiative for Sustainable Stock Exchange Reporting on ESG issues. This means that Stockholm, Helsinki, Copenhagen, Reykjavik, Tallinn, Riga and Vilnius have committed to produce a guidance on environmental, social and governance (ESG) disclosure for listed companies by the end of this year.

Nasdaq Nordic and Baltic exchanges joined the United Nations Sustainable Stock Exchanges (SSE) initiative in November 2015. This effort will also reinforce Nasdaq’s mission to provide fair, transparent, and efficient markets for investors. The forthcoming guidance will be aligned with the recommendations issued in 2015 by both the UN Sustainable Stock Exchanges’ initiative and the World Federation of Exchanges’ Sustainability Working Group.

For example the World Federation of Exchanges´Sustainability Working Group have several key ESG Metrics in their recommendations. Those include for example:

  • Direct/indirect GHG (greenhousegas) emissions
  • Water management
  • Waste management
  • CEO pay ratio
  • Gender pay ratio
  • Human rights policy
  • Board voting
  • Code of Conduct

This decision means that Nasdaq will work for the guidance with their stakeholders during this year and publish the guideline by the end of year. It will have some implications also to the IPO listings although the market reporting requirements differ for example in the First North and the main list.

The aim of this global Stock Exchange Initiative is to encourage responsible investment, enhance corporate transparency and ultimately performance on ESG (environmental, social and corporate governance) issues. The SSE is convened by the UN Conference on Trade and Development (UNCTAD), the UN Global Compact, the UN Environment Program Finance Initiative (UNEP FI), and the Principles for Responsible Investment (PRI).  (www.SSEinitiative.org).

Business Finance Lifestyle

Tesla to provide green energy for homes/offices & utilities

Tesla Motors (TSLA US) is entering new markets beyond electric cars. The CEO  Elon Musk announced on Wednesday that the company is starting delivering  so called Powerwalls, which enable homes to store for example solar energy to be used during the peak hours. Tesla says that this is a new innovation with easy to use and install and the battery itself is well designed and offer different colors. The deliveries of this lithium-ion batteries will start late summer this year and the walls are 7 kWh or 10 kWh priced 3500 dollars.

According to Musk the goal is to fundamentally change the way the world uses energy. “We are talking at the terawatt scale. The goal is complete transformation of the entire energy infrastructure of the world” , he said in the launching event.

Tesla is also making so called PowerPack solutions for corporations and utilities. So far the power industry has lacked a cost-effective solution for energy storage and this issue is growing all the time, while there is growing amount of solar and wind energy to be integrated into the grid. Tesla is building its own gigawatfactory and has also several co-operations agreements with local utilities and industries.

Tesla share closed to 226,03 dollars in Nasdaq New York.

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Business Tech