Norvestor Sells SCAN Geophysical shares
Norvestor IV makes its first exit by selling a part of its shares in SCAN Geophysical ASA, an international seismic data acquisition company, prior to the company being listed on the Norwegian stock exchange. .
Norvestor IV sold 9,500,000 shares at NOK 28 per share, making the fund a gross profit of EUR 32.5 million.
The fund remains the majority shareholder in the company with a 21.77 percent stake. The initial investment in SCAN was made in October 2005.
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| Fund | Norvestor IV LP Argentum share 36.03% |
| Portfolio Company | SCAN Geophysical |
| Date of Transaction | 2007-05-14 |
| Transaction | IPO |
| Seller | |
| Buyer | |
| Size of Transaction | EUR 32.5m |
| Ind. Focus | Energy |
| Geography | Norway |
| Stage | Small/mid-cap buyout |