The IPO bonanza in the Nordics stopped for a pause. The maket did not take well the ACH listing. The IPO was launched at 18 NOK and within two days traded down to 12.5 NOK. It hammered Aker Horisons (AKH). AKH is down 50% in last few days. There is detail analysis of AKH sum of the parts in this blog below. We bought AKH today.

The major themes for the next week for me will be re-rating of the IPOed companies placed during the last three weeks. There was just too many deals that pushed the companies prices down after lunch. As the blackout period for those expires, the brokers should start publishing research, that will introduce the opportunities to the public. The publications are often the trigger for the re-rating. We have bought the following stories during the last week sell off:

Scandia Energy (SKAND) – energy distributions start up by prominent Norwiegan businessman, who has sucessfully lunched similar company before. This is done at a time when Fjordkraft is alleged to be mistreating investors (see the articles in local press). The blackout for the company is over. SpareBank should publish the research soon. We bought shares three times last week.

HAV Group (HAV) – company listed at 18 NOK two weeks ago, now trading at 15 NOK. Very few people know it. Blackout ends this week. Research publication should happen before Easter. More on the company in a blog post from last week.

Huddly – very solid company. I devoted a full blog post to the company. The end of blackout happened last week. The research publication should be eminnent.

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