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Otovo Absorbs US Business, Plans US Dual Listing

MT Newswires·12/07/2025 23:43:40
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11:43 PM EST, 12/07/2025 (MT Newswires) -- Otovo (OTOVO.OL) completed the consolidation of its businesses in Europe and certain parts of the US, according to a Dec. 5 filing. The Norwegian solar systems company absorbed Otovo USA through a transaction that also involved a fully underwritten $5 million private placement of new shares. Proceeds from the share sale will be used for a new service and maintenance product and other corporate expenditures. Amid the merger, Otovo retained its listing on the Euronext Oslo Stock Exchange and also unveiled a plan to pursue a dual listing on a US bourse in the near future.