NORWAY - Warburg Pincus-backed EMGS shares fall by more than 60¯ter IPO

Since Warburg Pincus-backed EMGS, the oil exploration and production company, was listed on Oslo Børs in March, the share price has fallen by over 60%, from NOK 135 to under NOK 50. At the time of the IPO, the listing received a lot of press coverage, and it was argued that its price was over-valued. SEB Enskilda, the Swedish investment bank, called it “the biggest tech bubble valuation ever seen in oil service”, and it seems that their prophecy has come true. However, the company is still praised for its quality of service and technology.