Euronext right now congratulates Desert Management on its itemizing on Euronext Progress Oslo (ticker code: DSRT).
Desert Management is a local weather expertise firm specialised in reclaiming degraded soil and turning desert sand into fertile soil.
The corporate not too long ago raised NOK 200 million by way of the problem of latest shares and NOK 5.5 million in gross sales of current shares. The personal placement attracted vital curiosity from home, Nordic and worldwide buyers, specializing in ESG, sustainability, and inexperienced innovation. The capital raised will finance the corporate’s progress plan and business rollout within the United Arab Emirates and the western United States.
The brand new shares had been bought at NOK 11.69 and the corporate’s market capitalisation was NOK 475 million on the day of itemizing.
Ole Kristian Sivertsen, CEO of Desert Management, mentioned: “There are super progress alternatives in a market that’s rising quickly. Yearly, 12 million hectares of fertile land perish to desertification – that is 2,000 soccer pitches per hour. We are going to create a worthwhile enterprise and contribute to fixing main international challenges.”
Welcome: Øivind Amundsen, President and CEO of Oslo Børs rang the bell throughout a digital ceremony this morning along with Ole Kristian Sivertsen, CEO of Desert Management, to rejoice the itemizing of the corporate.
About Desert Management Desert Management is a local weather expertise firm specialised in reclaiming degraded soil and turning desert sand into fertile soil. The patented product LNC (Liquid Pure Clay) is a liquid clay compound that allows sand and degraded soil to retain water and vitamins. LNC thus will increase crop yields, whereas consumption of water and fertilizer decreases by as much as 50%. Learn extra at: www.desertcontrol.com