Oslo Børs

Oslo Børs is a regulated market in accordance with the terms of the Securities Trading Act.

The listing process

The formal process for admission to listing is as follows:

  1. Approved EEA prospectus is submitted to Oslo Børs together with the listing application (In Norway prospectuses are inspected and approved by Finanstilsynet)
  2. The issuer’s duty of disclosure applies from the time of application for listing
  3. The listing departement at Oslo Børs reviews the submitted documentatio up to the requirements of the Bond Rules on Oslo Børs and the administration decide bond issue to listing
  4. The bond loan may be admitted to listing at the earliest the day after disbursement date

A new issuer will be required to provide certain items of information additional to those mentioned above before its first loan can be admitted to listing.

Terms for listing of interest-bearing instruments

The Bond Rules apply to the issuers of interest-bearing instruments on Oslo Børs. A number of conditions must be satisfied before an issue can be admitted to listing. These include requirements that the securities must be:

  • registered with a central securities depository
  • fully paid-up
  • freely transferable
  • for an issue of at least NOK 2 million.

Bond loan

The issuer must produce a prospectus prior to applying for listing. The prospectus provides the basis for the decision on whether the securities are suitable for listing on the exchange. This evaluation pays particular attention to the presentation of the issuer and the provisions in the loan terms and conditions that are of significance for equal treatment of all bond/certificate holders. The prospectus will normally consist of a registration document which describes the borrower and a securities note which describes the loan. The contents of the two documents are subject to specific requirements.

Certificate loan

An issue of interest-bearing instruments with an original maturity not exceeding 12 months is termed a certificate loan in the Norwegian market. Issuers can seek permission to prepare a listing document that is somewhat less detailed than a prospectus when listing a certificate loan. Where permission is granted, it is normally acceptable for the purpose of admission to listing for the issuer to prepare a certificate loan agreement and appoint an approved trustee for the loan.


Issuers of bonds and certificates shall pay fees in accordance with the general business terms and the current price list.

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Interest-bearing instruments