Veidekke employees bought shares like never before
The share offer was massively oversubscribed when Veidekke's employees were given the opportunity to buy shares in the company. 2,138 employees ordered shares valued at NOK 123 million, which meant that the offer was oversubscribed by 106%. After reductions, shares for more than NOK 60 million changed hands.
Every autumn all permanent employees of Veidekke are given the opportunity to buy shares in the company with a 20% or 30% discount respectively (depending on financing). The shares have a lock-in period of two years. This year 33% of employees wanted to use their savings to buy shares.
The great interest in shares among employees resulted in the largest oversubscription in the 30-year history of the share scheme. Most of the orders were therefore significantly reduced.
It was particularly pleasing that as many as 420 employees bought their first Veidekke shares this year. 3,543 of the employees (50%) now own 15.8% of the shares in Veidekke with a combined value of NOK 2.2 billion.
|Employee orders||New subscribers|
For press photos, see www.flickr.com/photos/veidekke, for more information, contact:
SVP Finance Jørgen Michelet, tel. +47 917 43 856, firstname.lastname@example.org
Communications Manager Helge Dieset of Veidekke ASA, tel. (+47) 905 53 322, email@example.com
Veidekke is one of Scandinavia's largest construction and property development companies. The company undertakes all types of construction and civil engineering contracts, maintains roads, and produces asphalt and aggregates. The company is characterised by involvement and local knowledge. Revenue is NOK 24 billion (2014), and half of the 7,000 employees own shares in the company. Veidekke is listed on the Oslo Stock Exchange and has always posted a profit since it was founded in 1936.