Havyard now listed on the Oslo Stock Exchange

The Havyard stock, with the ticker HYARD, began trading from 9 o’clock today at the Oslo Stock Exchange and at 13 o’clock President & CEO Geir Johan Bakke rang the ceremonial bell.

Havyard now listed on the Oslo Stock Exchange

In February, the majority owner Havila Holding announced the planned IPO of Havyard Group. The IPO will improve the premises for further internalization and growth for the Havyard Group, the company says.

Per Sævik, CEO of the family company Havila Holding said in connection with the planning of the IPO: “Our family has broad interests in the offshore supply industry. Inlight of this, and because we see that we need to optimise the conditions for continued growth for Havyard Group, both on technology and ship equipment, we choose to reduce our ownership. Havyard has a significant potential for growth, but the further development of the company requires more than we as a family company have the possibility to contribute”.

Sævik was clear that a reduction of ownership and the move to go public does not constitute a loss of faith in Havyard Group, quite the opposite.

Following the IPO and listing Havila Holding has approx. 63,5 % of the sghares in Havyard Group ASA.

Focus on creating values
Short term, the listing means greater interest for Havyard Group and President and CEO Geir Johan Bakke from the stakeholders, especially from new owners.

“In Havyard we have always had a long term perspective and worked focused towards building a competitive international ship technology group” Bakke replies and continues. “Havila Holding has been a great owner that has supported and enabled us to develop from a local, Norwegian shipyard to an internationally renowned brand supplying ship equipment, ship design and ship building. As majority owner they will continue to influence us, but we have also got many new stake holders to relate to. This provides challenges and opportunities and we are look positive to continuing generating value for all of our stake holders, being our employees, customers or owners”, an optimistic President & CEO Geir Johan Bakke concludes.

New Chairman of the board

This year’s annual general meeting in Havyard Group ASA elected Bård Mikkelsen as new Chairman of the board from the time of listing at Oslo Børs.

Former Chairman of the board and CEO of majority owner Havila Holding, Per Sævik said: “Bård Mikkelsen has been elected following a long and thorough process, where several candidates have been considered. Havila Holding is very pleased with this choice. I feel confident that Mr Mikkelsen, the board and the management of Havyard Group together will develop the company for the future.”
Bård Mikkelsen has extensive experience as CEO and board Chairman / board member from several companies. He has among other been CEO of Statkraft, Widerøe and Ulstein Group and Chairman of the board for Cermac and board member of the German power giant E.On.

“I look forward to working with the board and the company management, creating safe and profitable jobs,  says Chairman of the board Bård Mikkelsen who also was present during the traditional bell ringing ceremony at Oslo Børs.

Havyard Group ASA develops and sells ship designs and ship equipment in addition to its own construction of advanced vessels for shipyards and ship-owners worldwide operating within the offshore oil & gas, fishing and aquaculture industries. Havyard Group delivers products and services within the complete value chain from vessel design, construction, after sales and life cycle support for the vessels in operation.


Press Release, July 01, 2014