Next Generation Partners

Rising Stars

Capital markets in Norway


Fielding a team of ‘hardcore negotiators,’ BAHR remains a market-leading presence in the Norwegian capital markets space, routinely assisting clients on large and complex international transactions. Hailed by clients as ‘the best law firm in Norway within this field’, the team is jointly led by Richard Sjøqvist and Lars Knem Christie; Sjøqvist heads up the firm's banking and finance practice and takes point on large debt capital markets matters, while ‘trailblazer’ Christie is the key contact for IPOs and share offerings. Audun Nedrelid is recommended for high-value bond issuances, while Markus Nilssen has a special focus on financial regulation.

Responsables de la pratique:

Lars Knem Christie; Richard Sjøqvist

Autres avocats clés:

Audun Nedrelid; Markus Nilssen; Robin Bakken

Les références

‘The best law firm in Norway within this field.’

‘Lars Knem Christie is one of the most talented attorneys I have worked with; his ability to quickly digest very complex information and to respond with a fulsome analysis is a great strength. A trailblazer in the Norwegian capital market. We could not ask for better representation.’

‘The team shows great legal skill in combination with commercial insight and understanding. Delivers fast and in high quality.’

Principaux clients


Aker Group

Pareto Securities

Norwegian Energy Company

DNB Bank and DNB Markets

Norwegian Air Shuttle




Cool Company Ltd


ABG Sundal Collier

Nordic Trustee

Morgan Stanley

JP Morgan

Norconsult Holding

Energy Drilling

Principaux dossiers

  • Acted as legal adviser to OSE-listed seafood giant SalMar ASA in connection with a large and complex public M&A transaction involving five publicly listed companies.
  • Acted as lead legal adviser to PGS on the issuance of a new $450m senior secured Nordic high-yield bond with a four-year tenor.
  • Recently assisted Aker ASA in connection with several issuances of green bonds for a total of around NOK3bn.

Advokatfirmaet Thommessen AS

With a large and experienced team described by clients as ‘one of the best in Norway’, Advokatfirmaet Thommessen AS continues to act on a high volume of complex transactions, IPOs, and private placements. Acting for an impressive client roster that includes large domestic and international investment banks and corporates, the team has particular strength in equity capital market transactions. Practice co-head Christian Grüner Sagstad is a key name here, working alongside co-head Einar Grette, who takes point on debt capital markets matters. Other key ECM names include Hans Cappelen Arnesen, Anders Arnkværn and Solveig Fagerheim Bugge, while new partner Frida Stene-Slotte and the ‘highly skilledHalvor Mansåker are key contacts on the DCM front.

Responsables de la pratique:

Christian Grüner Sagstad; Einar Grette

Autres avocats clés:

Hans Cappelen Arnesen; Anders Arnkværn; Solveig Fagerheim Bugge; Frida Stene-Slotte; Halvor Mansåker

Les références

‘One of the clear leaders in Norwegian capital markets. Definitely a go-to firm in the Norwegian market. Maybe the best team available for Norwegian ECM/IPOs and they are strong in M&A as well. They have broad capabilities and high quality.’

‘We have worked with Anders Arnkværn on several IPOs. He has a hands-on approach and is quick to respond on important matters. Also pragmatic. We also have very good experience with the rest of the team associates and senior associates (and other partners).’

‘Our go-to firm for negotiations and regulatory discussions. Highly skilled at negotiations and contracts, with particular skills within financial regulations. Very good at resource allocation – always capacity.’

Principaux clients


Nordea Bank

Danske Bank

Svenska Handelsbanken

Pareto Securities AS

Pareto Alternative Investments AS

ABG Sundal Collier ASA

Sparebank 1 Markets

Sparebank 1 Gruppen AS

Carnegie AS

Arctic Securities AS

Skandinaviska Enskilda Banken AB

Fearnley Securities

B2Holding ASA

Nordic Trustee AS

Norlandia Health & Care Group AS

NES Fircroft Bondco AS

Goldman Sachs International

Swedbank AB

Lyse AS

Infront AS

Rederiaktiebolaget Eckerö

Morgan Stanley

UBS Investment Bank

Seadrill Ltd

Salmones Camanchaca S.A.


Webstep ASA

Elkem ASA

Odfjell Drilling Ltd.

Oslo Børs VPS Holding ASA

Kongsberg Gruppen ASA

Shelf Drilling, Ltd.

BW Group Limited

BW Offshore Limited

BW LPG Limited

BW Energy Limited

Hafnia Limited

Navamedic ASA

RAK Petroleum plc

Stolt-Nielsen Ltd.



MPC Container Ships ASA

Höegh Autoliners ASA

Magseis Fairfield ASA

Pioneer Property Group ASA

Icelandic Salmon AS

Everfuel A/S

Norwegian Property ASA

Lytix Biopharma AS

Komplett ASA

Cadeler A/S

Sats ASA

Borgestad ASA

Principaux dossiers

  • Advised Kahoot! in connection with the ongoing takeover offer from Goldman Sachs Asset Management and certain other investors for an aggregate equity purchase price of NOK17.2bn.
  • Advised Clarksons Securities AS, DNB Markets, a part of DNB Bank ASA and Pareto Securities AS on Borr Drilling Limited’s $250m senior unsecured convertible bonds and $150m senior secured high yield bonds.
  • Acted for DOF Group ASA in connection with its comprehensive refinancing (converting debt of appr. NOK6bn to equity) and subsequent IPO on Oslo Børs (main list), completed in June 2023.


Acting for both issuers and trustees, Wiersholm stands out for its strength across the full spectrum of capital markets work, handling a high volume of private placements, bonds, IPOs and listing mandates. Equity capital markets work is a particular area of expertise for the firm. A key name here is Anne Lise E. Gryte, who has ‘invaluable and unmatched‘ expertise across all aspects of ECM work; she now co-heads the team alongside bond markets specialist Petter Thomren Moltu. Tone Østensen has extensive experience advising on IPOs, rights offerings, and convertible bond issuances, while the ‘razor sharpSverre Sandvik divides his practice between M&A and capital markets transactions.

Responsables de la pratique:

Anne Lise E. Gryte; Petter Thomren Moltu

Autres avocats clés:

Tone Østensen; Sverre Sandvik

Les références

‘Wiersholm has a really strong team, both on the partner side and among associates. They can handle large and complex projects and always deliver great quality and client service.’

‘Sverre Sandvik is probably the most knowledgeable capital markets lawyer in Norway. He is razor sharp and always gives sound and pragmatic advice.’

‘Anne-Lise E. Gryte is a star.’

Principaux clients

ABG Sundal Collier ASA


DNB Markets, a part of DNB

Pareto Securities

Schibsted ASA

Norsk Hydro ASA

Mowi ASA

Flex LNG

Wilh. Wilhelmsen Holding ASA

RAK Petroleum Plc

Benchmark Holdings PLc

Oaktree Capital

Statkraft AS

Goldman Sachs

Seaway 7 ASA

Flyr AS

Awilco Drilling PLC

SpareBank 1 Markets AS

Arctic Securities AS

ADS Maritime Holding PLC

Nordic Trustee AS



SFL Corporation Group

ShaMaran Petroleum Corp

Integrated Wind Solutions ASA

Waste Plastic Upcycling A/S

Kyoto Group AS

Principaux dossiers

  • Assisted the managers in connection with the IPO of DOF GROUP ASA on Oslo Børs.
  • Assisted Schibsted ASA in connection with the secondary bloc trade of shares in the Oslo Børs listed Adevinta ASA.
  • Acted for the arrangers and the bond trustee in connection with the comprehensive refinancing of Archer Limited, including a $100m private placement and a 2nd lien bond issuance.

Wikborg Rein

Described as ‘a natural choice for most transactions’, Wikborg Rein continues to advise on a large number of IPOs and private placements, and has notable strength in the offshore, shipping and energy industries. The ‘highly pragmatic’ Dag Erik Rasmussen leads the equity capital markets sub-group and advises corporates, investment banks and investors on securities law. Stian Tande Mortensen leads on the debt capital markets side and specialises in high-yield bonds and direct lending transactions. Andreas Kjensli Lund is praised by clients for his strength in cross-border mandates and was promoted to partner in 2023. At associate level, Karoline Stock Evje ably assists on equity capital markets transactions.

Responsables de la pratique:

Dag Erik Rasmussen; Stian Tande Mortensen

Autres avocats clés:

Karoline Stock Evje; Andreas Kjensli Lund; Per Anders Sæhle

Les références

‘Wikborg Rein has a very strong financing team that covers all aspects of our business needs, from regulatory issues to transaction work.’

‘Dag Erik Rasmussen has extensive experience and is highly pragmatic and hands on.’

‘Stian Mortensen. Market leader and very much used in the Norwegian debt capital market. The ability to combine the bond work with bank lending makes WR a natural choice for most transactions.’

Principaux clients

General Atlantic

Gram Car Carriers

The Kingfish Company N.V.

Deep Value Driller AS

Quantafuel ASA

Norse Atlantic ASA

DNB Markets, a part of DNB Bank ASA

Endúr ASA

Sparebank 1 Markets

Pareto Securities

Agilyx ASA

The Norwegian Ministry of Trade, Industry and Fisheries

SoftwareONE Holding AG





Pareto Securities AS

ABG Sundal Collier ASA

Danske Bank Markets

Nordea Markets

Arctic Securities AS

Nordic Trustee AS

Carnegie AS

Clarksons Platou Securities


Principaux dossiers

  • Advised Seacrest Petroleo Bermuda Limited in connection with its listing on Oslo Børs.
  • Advised General Atlantic on its acquisition of 15% stake in Kahoot! ASA, and subsequently advised General Atlantic in connection with the recommended NOK17.2bn cash offer to acquire all outstanding shares in Kahoot! ASA by a consortium of investors, including General Atlantic.
  • Advised Pareto Securities AB, acting as the lead manager, and Nordic Trustee, acting as bond trustee, facility agent and security agent, on a complex multi-tranche financing for Ziton A/S.

AGP Advokater

Transactional, corporate and capital markets boutique firm AGP Advokater advises companies, investors, and lenders on the full range of capital markets work. Jointly led by Lars André Gjerdrum and Hege Dahl, the ‘highly engaged and creative‘ team has a solid track record in advising on high-profile public takeovers and various capital markets transactions. The team recently expanded its debt securities practice with the January 2023 hire of Peter Skutvik, previously at Advokatfirmaet Schjødt.

Responsables de la pratique:

Lars André Gjerdrum; Hege Dahl

Autres avocats clés:

Gard Skogstrøm; Peter Skutvik

Les références

‘Lars-Andre Gjerdrum – hands on and good stakeholder management.’

‘Competent team. Feel you get the best from the firm into every interaction.’

‘Gard Skogstrøm is creative and good at listening to various stakeholders when trying to engineer through a solution that works for everyone.’

Principaux clients

Sikri Group ASA

LINK Mobility Group Holding ASA

Karbon Invest AS

ABG Sundal Collier ASA

StrongPoint ASA

Norselab AS

TouchNetix AS

Oda Group Holding AS

James Hall & Company LTD

Nortel AS

Antec Biogas AS

Techstep ASA

Crayon Group Holding ASA

Gentian Diagnostics ASA

Hjemmelegene AS

Nanopower AS

SpinChip Diagnostics AS

Principaux dossiers

  • Acting for Euronext Growth Oslo-listed Nortel AS in connection with the offer for all shares in the company from Unifon AS in an approx. NOK500m deal.
  • Advising Oslo Børs-listed Techstep ASA in connection with its approx. NOK125m equity financing, including refinancing of debt into equity and subsequent refinancing of bank debt.
  • Counsel to ODA on its NOK1.5bn private placement towards Summa Equity, Verdane Capital and Kinnevik Online.

Advokatfirmaet CLP DA

Drawing on the firm’s broader capabilities, the capital markets practice at corporate boutique Advokatfirmaet CLP DA is particularly active in ECM work, advising issuers, investors, and managers on equity offerings. Edvard Cock leads the team and handles private placements and regulatory capital markets work, while Andreas Kildal is the name to note for trades in listed securities. At associate level, the ‘efficient and excellentJoakim Gjerde and Christine Schjerven handle securities law and capital markets transactions, including equity raises and stock exchange listings.

Responsables de la pratique:

Edvard Cock

Autres avocats clés:

Andreas Kildal; Joakim Gjerde; Christine Schjerven

Les références

‘Skilled and ahead of problems that may arise. Good accessibility. Service minded.’

‘Easy to communicate with, support when needed. Understand the business and manages to combine that with legal advice.’

‘Always relevant and up to speed on any changes.’

Principaux clients

Standard Supply AS

Atlantic Sapphire ASA

poLight ASA

Aqua Bio Technology ASA

Univid ASA

S.D. Standard ETC Plc

Immunopharma AS

Hofseth BioCare ASA

Saga Pure ASA

Black Sea Property AS

Clean Seas Seafood Limited

Nordic Semiconductor ASA

Nordic Nanovector ASA

Principaux dossiers

  • Advised Atlantic Sapphire ASA on its NOK595m private placement through issuance of new shares.
  • Advised Nordic Nanovector ASA on its transformative acquisition of Thor Medical in a share exchange transaction.
  • Advised poLight ASA on a fully underwritten rights issuance for gross proceeds of NOK135m, with proceeds to be used for funding of the company’s growth plan.

Advokatfirmaet Haavind AS

Routinely instructed by clients to advise on the full range of capital markets transactions, the team at Advokatfirmaet Haavind AS handles high-value IPOs, bond issuances, private placements, and public takeovers for clients in the energy, technology, aquaculture and real estate sectors. Cornelius Sogn Ness leads the team and handles both equity and debt capital markets work, including public M&A and IPOs. He is ably assisted by Ragnar Gundersen Koffeld, who acts for domestic and international financial sector clients on equity capital markets transactions.

Responsables de la pratique:

Cornelius Sogn Ness

Autres avocats clés:

Ragnar Gundersen Koffeld

Principaux clients

Norsk Hydro ASA

Axactor SE


Kople AS

Lumi Gruppen AS


Gigante Salmon AS

Biofish Holding AS

Hydro Rein AS

Fastighets AB Balder

Ryde Technology AS

Principaux dossiers

  • Advised Lumi Gruppen AS on its NOK175m private placement and subsequent offering.
  • Advised Norsun AS on a highly complex financial restructuring and subsequent offering.
  • Advised Norcod AS on a NOK195m private placement and subsequent offering.

Advokatfirmaet Schjødt

The ‘efficient and responsive’ team at Advokatfirmaet Schjødt advises underwriters and issuers on a large number of pan-Scandinavian equity capital markets transactions and IPOs. Audun Bondkall heads up the practice and has a particular focus on securities and public and international capital market transactions, while Marianne Lind Sahl takes point on IPO mandates. Viggo Bang-Hansen advises issuers, sponsors and investors on equity and debt issuances, while the ‘extremely responsive’ Thomas Aanmoen is also recommended.

Responsables de la pratique:

Audun Bondkall

Autres avocats clés:

Viggo Bang-Hansen; Marianne Lind Sahl; Thomas Aanmoen

Les références

‘The team and the practice is efficient and responsive.’

‘Within capital markets, we work primarily with Thomas Aanmoen, who of course has vast experience within Norwegian capital markets. He is extremely responsive, and his ability to work effectively and focus on the most important aspects of our project is highly valued.’

‘Audun Bondkall is always available and delivers relevant advice enabling us to get the deal/transaction through on time.’

Principaux clients

Frontline Plc

Meltwater N.V.

Archer Ltd



Sparebank 1 Markets AS

Klaveness Combination Carriers ASA

Pareto Securities AS

ABG Sundal Collier ASA

Dolphin Drilling AS

Hydrogenpro ASA


Fielding a ‘dedicated‘ team, Selmer frequently handles cross-border IPOs for international clients seeking access to the Norwegian capital markets. Jon Fredrik Johansen and Christopher Jensen jointly oversee the group, with Johansen acting as lead counsel on several high-profile equity capital markets transactions and Jensen specialising in bond financings. The group strengthened its securities offering with the August 2023 arrival of Gabrielle Risøe, who joined from an in-house position. Senior associate Milja Lønne Mørkhagen is another key name on the securities side. Former co-head Andreas Jarbø left the practice in 2023.

Responsables de la pratique:

Jon Fredrik Johansen; Christopher Jensen

Autres avocats clés:

Tor Herdlevær; Milja Lønne Mørkhagen; Gabrielle Risøe

Les références

‘The company has a practical approach to our needs and offers not only legal but also good business understanding.’

‘Jon Fredrik Johansen has been highly proactive and the entire team has complemented each other in a very good way.’

‘Milja Lønne Mørkhagen and Jon Fredrik Johansen are our ongoing contacts in securities matters. We are not a large client, but we feel that we are nevertheless well looked after and followed closely with the high quality of the services provided.’

Principaux clients



SpareBank 1 Sørøst Norge

Norsk Titanium


Pyrum Innovations


Thor Medical

Convene Holding

Heroic Group

Desert Control


PCI Biotech

Norwegian Block Exchange



SpareBank 1 Østlandet

Sparebanken Vest

Selvaag Bolig

Pareto Securities

Nordea Bank, filial I Norge

Clarksons Securities

DNB Markets, part of DNB Bank

Sparebank1 Markets

Cyprium Metals

Fredrikstad Eiendomsinvest

GC Helsehus

GC Sykehus



CMS Kluge

Under the leadership of Johan Svedberg, CMS Kluge’s ‘hardworking, diligent and very knowledgeable‘ capital markets practice advises on IPOs, private placements, and high-yield bond issuances. Working alongside the firm’s corporate and banking and finance teams, the group is routinely instructed by clients in the maritime, oil and gas, and technology industries.

Responsables de la pratique:

Johan Svedberg

Les références

‘High standards, availability, good recommendations, combined explanation with good advice.’

‘I recommend Johan Svedberg.’

‘Humble, hardworking, diligent and very knowledgeable. Invaluable in negotiations and reading the counterpart.’

Principaux clients

Capsol Technologies

Ocean 14 Capital

Norsk Hydro

Armada Capital Partners

Xplora Technologies


Circularity Capital

Advokatfirmaet Grette AS

Advokatfirmaet Grette AS assists issuers and investment banks with a high volume of capital markets transactions across a range of industries, with particular emphasis on the technology, life sciences, energy, and real estate spaces. Andreas Myrstad leads the team and is a key contact for ECM work, while Erik Alsvik Skogsbakken leads on the debt work, focusing primarily on bond mandates.

Responsables de la pratique:

Andreas Myrstad

Autres avocats clés:

Erik Alsvik Skogsbakken

Principaux clients

Sparebank 1 Markets

Pareto Securities

ABG Sundal Collier



Fearnley Securities

Electromagnetic Geoservices ASA

Norne Securities

Principaux dossiers

  • Advised Carnegie, Jefferies and Pareto Securities (Joint Bookrunners) in connection with Oslo-listed Cloudberry Clean Energy ASA’s NOK800m equity private placement.
  • Advised Fearnley Securities and Norne Securities (Joint Bookrunners) in connection with the listing of Energeia AS on Euronext Oslo and the related approx. NOK90m equity private placement.
  • Advised Pareto Securities and SpareBank 1 Markets (Joint Bookrunners) in connection with Euronext Growth Oslo listed Nordic Unmanned’s NOK70m equity private placement.

Advokatfirmaet Simonsen Vogt Wiig

The ‘experienced and reliable‘ team at Advokatfirmaet Simonsen Vogt Wiig routinely assists issuers and investment banks with the full spectrum of private equity capital markets work, high-value listings, and IPOs across a diverse roster of industries. The practice is overseen by Amund Fougner Bugge and Christian Berg Meland; Bugge routinely acts on high-profile ECM transactions and public-to-private takeovers, while Meland focuses on debt capital markets transactions, including high-yield bonds. In 2022, ECM expert Stian Alexander Slaatta joined the team from Advokatfirmaet Thommessen AS.

Responsables de la pratique:

Amund Fougner Bugge; Christian Berg Meland

Autres avocats clés:

Stian Alexander Slaatta

Les références

‘An experienced and reliable team, with significant industry competence. Constructive input that will work within an actual company or industry context, rather than boilerplate standards.’

‘I recommend Amund Fougner Bugge, who is a dedicated and highly reliable discussion partner as well as legal adviser.’

‘The team was professional and able to solve problems and find solutions in an efficient manner.’

Principaux clients

Arctic Securities AS

BTIG Norway AS

Canopy Holdings AS

Carnegie AS

Curida Biologics AS

Curida Holding AS

DNB Markets, a part of DNB Bank ASA

Hima Seafood AS

Huddly AS

Jinhui Shipping and Transportation Limited

Næringsbanken ASA

Njord Securities

Norwegian Air Shuttle ASA

Novelda AS

Pareto Securities AS

Sparebank 1 Markets

Svenske Enskilda Banken AB

Tibber AS

Veson Nautical LLC

Zwipe AS

Fearnley Securities AS

Clarksons Securities AS

Principaux dossiers

  • Advised Tufton Investment Management on the incorporation and structure of Stainless Tankers ASA (ticker STST) in December 2022, and assisting Stainless Tankers ASA with its $67m private placement, listing on the NOTC and subsequent uplisting to Euronext Growth Oslo.
  • Advised the joint bookrunners comprising of Arctic Securities AS, Clarksons Securities AS, DNB Markets, a part of DNB Bank ASA, Fearnley Securities AS and Pareto Securities AS, in connection with Dolphin Drilling AS’ $60m private placement in June 2023.
  • Advised Atlas Special Opportunities Ltd on its investment in up to NOK300m of convertible bonds issued by Circio Holding ASA.