Fondsfinans ASA Haakon VII's gate 2 P.O. Box 1782 Vika N-0122 Oslo

Transcription

1 Fondsfinans ASA Haakon VII's gate 2 P.O. Box 1782 Vika N-0122 Oslo mail@fondsfinans.no Web: Tel: Fax:

2 FONDSFINANS - INTRODUCTION Fondsfinans at a glance A highly respected investment bank with long traditions Company facts Awards and achievements Tracing our roots back to 1915, Fondsfinans is the oldest investment bank in Norway 70 employees Offices in Oslo and New York Fondsfinans analysts have earned several awards from Thomson Reuters, including: Top Overall Stock Picker Best Stock Picker in Financial Services Top Overall Earnings Estimator in the Nordic Region in A highly respected and competent investment bank Corporate Finance Equity sales and trading Fixed income sales and trading Equity and credit research High quality domestic and international clients Rated best stock picker in Norway several times Highly ranked on Norwegian M&A leagues Three out of four funds are top rated with five stars Morningstar Fondsfinans Spar was awarded best Norwegian Equity fund last 5 years for the 3rd consecutive year Thomson Reuters Lipper Fund Awards Strong focus on the energy sector 1

3 FONDSFINANS - HISTORY The history of Fondsfinans Norway s oldest investment bank Rolf Stenersen acquires Stephanson & Nielsen A/S A/S Fondsfinans is acquired Erik Must and Kjell Chr. Ulrichsen Fondsfinans Kapitalforvaltning ASA is established as Fondsfinans asset management arm Rolf Stenersen is employed in his brothers stockbroking firm Aksjemeklerfirmaet A/S Stenersen og Waage Stephanson & Nielsen A/S is renamed Fondsfinans A/S The two central employees and part owners, Gunnar Solvang and Kjell Borchgrevink, leave to establish A/S Fondsfinans. Rolf Stenersen establishes Rolf E. Stenersen A/S, and the former Fondsfinans A/S is discontinued Erik Must becomes sole owner of Fondsfinans Stockbroking firm Stephanson & Nielsen A/S established in Oslo Rolf Stenersen flees to Sweden after his literary works was banned the NS authorities in 1941 Fondsfinans is organised as an internal partnership Fondsfinans Kapitalforvaltning ASA establishes its first mutual fund 2

4 FONDSFINANS - GEOGRAPHY Presence and distribution Offices in Oslo and New York investors are mainly based in the Nordic region Offices in Oslo and New York Geographical distribution of registered customers Europe 18% US 7% Nordics 75% Extensive network of investors in Scandinavia and internationally Focus exclusively on professionals and institutional investors Fondsfinans ASA Haakon VII s gate 2 P.O. Box 1782, Vika, N-0122 Oslo Covering Nordics and the rest of Europe Bergen Fondsfinans is a part owner in Norne Securities retail distribution channel Fondsfinans Inc. 950 Third Avenue, Suite 1902 New York, NY Distribution channel towards US investors 3

5 FONDSFINANS - OVERVEIW Fondsfinans Services A fully integrated investment bank Markets Research Investment Banking Asset management Sales team covering both Equities and Fixed Income 11 analysts with extensive industry knowledge and expertise 12 advisors with extensive experience and strong relations 3 Portfolio managers with strong track record and extensive experience 15 equity brokers with strong coverage of domestic and international investor universe Covering 90-95% of Oslo Stock Exchange Market capitalization (OSEBX) More than NOK 180 billion worth of transactions over the past 15 years 3 out of 4 funds are top rated with 5 stars Morningstar 5 fixed income experts with extensive experience within debt structuring, trading and research Several awards and top ratings Industry expertise in major sectors More than NOK 1.8 billion under management strong growth 4

6 FONDSFINANS MARKETS Fondsfinans Markets Sales team with high degree of seniority and solid placing power In brief Products and services Sales team of ~20 brokers with extensive experience Serves primarily professional and institutional clients Covers Norway, the Nordics, Europe and North America Works closely with the research analysts to gain new insights which might not be reflected in the share price Emphasizes execution accuracy, consistency of service, discretion and independent thinking Equity trading Fixed income trading Daily morning market updates Idea generation News and trade flow Insight on investor sentiment Value added comments & follow-up 5

7 FONDSFINANS MARKETS Fondsfinans Markets Covering both Equities and Fixed Income Equity Sales Fixed Income The longest standing equity broker in Norway Sales and trading within a broad Deep roots in the Norwegian business community Unique local knowledge Long-standing relationships Sales and trading within a broad range of fixed income instruments, including: Covered bonds Senior debt Subordinated debt Extensive network of investors in Scandinavia and internationally Strong placing power High degree of seniority on the team High market share in targeted stocks Access to multiple trading platforms where Nordic stocks are traded Hosts investor meetings, seminars, and company road shows Focus on primary issuance and secondary market trading in the Scandinavian fixed income market Also covers international issuers with particular focus on energy, oil services, and shipping Daily trade activity summary issuer and sector Daily credit reports Capital structure advisory in cooperation with the investment banking team 6

8 FONDSFINANS RESEARCH Fondsfinans Research Strong analyst track record In brief Research products Experienced research team covering both equities and fixed income Fondsfinans analysts have been highly ranked in various reviews of analyst performance Covers more than 50 companies listed on the Oslo Stock Exchange and the vast majority of companies represented in the fixed income markets Credit reports Company research reports Morning reports Sector reports Weekly picks/portfolio Seminars 7

9 FONDSFINANS RESEARCH Fondsfinans Research Highly experienced research team Arne-Egil Rønning Head of research Industry, seismic Ivar Andreas L. Gjul Rig, offshore Arild Nysæther Telecom, media and technology Petter Narvestad Supply, oil service, cruise Bent Rølland Aquaculture Dr. Hans Peter Bøhn Healthcare Per Haagensen Consumer discretionary Philip Michael Scrase Aquaculture Shirley Dong Xiuyi Generalist Sverre Salbuvik Shipping Morten Evjenth Lindbæck Oil and gas 8

10 FONDSFINANS INVESTMENT BANKING Fondsfinans Investment Banking A trusted and experienced advisor Stå noe mer! Nearly 100 years of experience as a trusted advisor and an unparalleled track record in the Norwegian transaction market Highly skilled team of professionals with in-depth industry and transaction knowledge Consistent focus on creating long-term value for our clients in all phases of growth and transition Close relations to management in most leading companies in Norway, as well as Norwegian government bodies 9

11 FONDSFINANS INVESTMENT BANKING Fondsfinans Investment Banking Nearly 100 years of transaction experience Our competitive edge Full scale service offering A unique position in the Norwegian market with nearly 100 years of transaction experience An independent advisor with high quality of service and an excellent reputation A competent and experienced team with in-depth industry knowledge and solid execution skills An extensive network of tier one institutional investors provides us with an exceptional placing power Initial public offerings (IPOs) ECM - equity offerings (private or public) DCM fixed income structuring and offerings (all classes) Mergers and acquisitions (M&A) Fairness opinions, valuations and defense strategies Strategic advisory 10

12 FONDSFINANS INVESTMENT BANKING Completed transactions sector* In-debt sector knowledge % of total transaction value Biotech and healthcare 2 % Industry, building and construction 2 % Materials 1 % Other 1 % Mining 1 % Real estate 0.5 % Private equity 0.4 % Selected former and current clients from various sectors: % of total no. of transactions Materials 2 % Industry, building and construction 2 % Shipping 2 % Mining 2 % Real estate 2 % Private equity 2 % Other 1 % Total transaction value (NOKm): * Total number of transactions: 269* 11 *)

13 FONDSFINANS INVESTMENT BANKING Investment Banking credentials Selected ECM transactions Equity issue Private placement and repair offering Rights issue Rights issue Rights issue Rights issue and bond restructuring NOK 200m NOK 110m NOK 118m NOK 15m NOK 75m NOK 35m Financial advisor Equity capital raising equity certificates Private placement Equity issue Private placement Rights offering Guaranteed rights offering NOK 618m NOK 350m NOK 250m NOK 180m NOK 150m NOK 90m Joint lead manager Joint lead manager Joint lead manager Rights issue Private placement Private placement Capital raising Private placement Initial public offering NOK 14000m Advisor to Ministry of Trade and Industry NOK 900m Joint lead Manager/ bookrunner NOK 500m Joint lead manager NOK 45m NOK 825m Co-manager NOK 600m Co-manager 12

14 FONDSFINANS INVESTMENT BANKING Investment Banking credentials Selected DCM transactions Senior unsecured bond issue Senior unsecured bond issue Senior secured convertible bond issue Issue of regulatory capital (tier 1, tier 2 bonds) Bond issue Senior unsecured bond issue NOK 100m NOK 400m NOK 60m NOK 700m NOK 15m NOK 300m Joint bookrunner Tier 1 hybrid capital issue Bond refinancing Tier 1 bond capital raising Bond issue Subordinated bond issue Convertible bond loan NOK 450m Joint lead manager NOK 50m NOK 400m Advisor to Sparebanken Vest NOK 230m Advisor to Lotus E&P Norge AS NOK 400m Advisor to Roxar ASA NOK 50m Sole bookrunner Private placement of bonds Convertible bond issue Private placement of senior secured bonds Private placement of convertible bonds Guaranteed private placement of bonds and warrants Bond issue R. Domstein & Co. NOK 400m Advisor to Wega Mining ASA NOK 200m Co-manager NOK 300m Co-manager NOK 100m NOK 65m NOK 100m 13

15 FONDSFINANS INVESTMENT BANKING Investment Banking credentials Selected M&A transactions 2012 Acquisition of 2012 Acquisition of Sale of Acquisition of Acquisition of Voluntary offer for GC Rieber Shipping ASA Undisclosed amount Advisor to Ragn-Sells Undisclosed amount Advisor to Papyrus AB NOK 234m Advisor to Arendals Fossekompani NOK 528m Buy/sell-side advisor to Sparebanken Vest NOK 450m Advisor to AF Gruppen NOK 213m Financial advisor to GC Rieber AS Acquisition of Statoil s onshore wind activities in Finnmark Sale of Mainstream Scotland to Morpol ASA Merger of and Share sale in Miljøbase Vats AS 2009 Acquisition of LNG vessels and subsequent offering 2009 Acquisition of NOK 50m Advisor to Finnmark Kraft NOK 350m Advisor to Cermaq ASA NOK 750m Advisor to Goodtech NOK 120m Advisor to AF Gruppen ASA NOK 6500m Advisor to BW GAS Limited NOK 1900m Advisor to CGG Veritas 2009 Acquisition of 2009 Acquisition of 2008 Industrial sale/ divestment 2008 Block sale/ divestment of EEX of 2008 Industrial sale 2008 Acquisition of To Nasdaq OMX to NOK 290m NOK 288m Advisor to Powel ASA NOK 110m Advisor to Glamox ASA NOK 2300m Sole advisor to Nord Pool ASA NOK 288m Advisor to Nord Pool ASA Advisor to Nord-Trøndelag Elektrisitetsverk AS NOK 288m Advisor to Enghav 14

16 FONDSFINANS INVESTMENT BANKING Fondsfinans Investment Banking Our corporate finance team profound transaction know-how Nils Erling Ødegaard CEO Joined Fondsfinans in 1990 More than 30 years of investment banking experience, including positions in DnC ( ) within corporate finance and as Head of equity sales MBA from NHH and MA Economics from University of California Per Christian Goller Head of Corporate Finance / Partner Joined Fondsfinans in 20 years of management experience from industry and corporate finance, including Midland Montague, Tine BA, Opera Software and Berg Goller & Co AS B.Sc. (hons.) from UMIST and MBA from NHH Christian Must Partner Joined Fondsfinans in 2005 Before joining our corporate finance team in 2009, Christian worked in our research department. Previous experience include positions as Manager in Heidelberg Cement Group and Engineer in Veidekke ASA and Fortum Solar, M.Sc. in Industrial economics and technology management from NTNU and Authorized Financial Analyst from NHH Henning Lassen Partner Joined Fondsfinans in Previous experience from Saga Securities/ Danske Bank, Norse Securities, DnB Markets and Pareto Securities M.Sc. in Shipping, Trade and Finance from Cass Business School, Cand.Mag. from the university of Oslo and UT1 Toulouse Rolf Henning Lem Partner Joined Fondsfinans in years of investment banking experience. Previous positions include Vice President Finance at Dyno Industrier and management consultant at Deloitte Haskins & Sells and Nexia. In - he served as CFO at Bionor Pharma HAE from NHH Johan Aaserud Partner Joined Fondsfinans in 2007 Extensive transaction experience within both public and private ECM and M&A transactions across several sectors. Prior to joining Fondsfinans he was part of the industrial Strategy and M&A team of Posten Norge AS. M.Sc. in Industrial economics and technology management from NTNU 15

17 FONDSFINANS INVESTMENT BANKING Fondsfinans Investment Banking Our corporate finance team profound transaction know-how Erik Rønnov Partner Joined Fondsfinans in More than 20 years of investment banking experience from Credit Suisse, Handelsbanken, HLR Formuesforvaltning, BZW, Robert Fleming & Co. and S.G. Warburg & Co. B.Sc. (Hons.) in Business Administration from University of Bath Hans Atle Bale Partner Joined Fondsfinans in More than 20 years investment banking and asset management experience from SEB and Nordea. In SEB he was part of the executive management team, and established the banks asset management division in Norway. MBA from NHH Kjetil Sørlien Barli Associate Joined Fondsfinans in Transaction experience within ECM, DCM and M&A across several sectors. Prior to joining Fondsfinans he worked as a management consultant in PA Consulting Group M.Sc. in Industrial economics and technology management from NTNU, with major in financial engineering Lars Hvam Associate Joined Fondsfinans in Broad sector knowledge and transaction experience within ECM and M&A advisory. Prior to joining Fondsfinans Lars worked as a management consultant in Econ Pöyry and as equity analyst at Kaupthing Capital Markets M Sc. in Industrial economics and technology management from NTNU, with major in finance Thomas Hasner Analyst Joined Fondsfinans in 2012 Relevant work experience from ProCorp and as a summer intern in RS Platou MBA from NHH, with major in finance Ole Magnus Broch Tenstad Analyst Joined Fondsfinans in 2012 Previous experience from DNB Markets in Bergen and from the student-run consulting firm NHHS Consulting AS MBA from NHH, with major in finance 16

18 FONDSFINANS ASSET MANAGEMENT Fondsfinans Asset Management Highly ranked funds and portfolio managers Established 1997 Asset management services through sister company Fondsfinans Kapitalforvaltning ASA Four funds under management - Fondsfinans Spar - Fondsfinans Aktiv - Fondsfinans Biotech - Fondsfinans Clean tech Our portfolio managers have consistently earned high rankings amongst industry peers Three of four funds have earned Morningstar s Five Star distinction Fondsfinans Spar awarded best Norwegian Equity fund last 5 years for the 3rd consecutive year Thomson Reuters Lipper Fund Awards Best Fund* over 5 years 2009, and 3 of 4 funds with Morningstar s Five star 17

19 Fondsfinans ASA Haakon VII's gate 2 P.O. Box 1782 Vika N-0122 Oslo mail@fondsfinans.no Tel: Fax: