ShaMaran Petroleum Transfers Primary Listing to Euronext Growth Oslo to Strengthen Market Access and Liquidity

ShaMaran Petroleum Transfers Primary Listing to Euronext Growth Oslo to Strengthen Market Access and Liquidity

(IN BRIEF) ShaMaran Petroleum Ltd. has listed on Euronext Growth Oslo under the ticker symbol SNM, giving the company a market capitalisation of approximately NOK 3.84 billion on its first day of trading. The listing is Euronext’s 26th listing in 2026 and its 12th international admission this year. ShaMaran, an independent oil and gas company focused on the Kurdistan Region of Iraq, operates through interests in the Atrush and Sarsang Production Sharing Contracts, which together produced more than 65,000 barrels of oil per day in 2025. The move of its primary listing to Oslo is intended to enhance share liquidity, expand the investor base and improve access to capital markets, while the company keeps its existing listing on Nasdaq First North Growth Market. ShaMaran also completed a private placement that raised NOK 10.8 million and added more than 400 new shareholders.

(PRESS RELEASE) OSLO, 5-Jun-2026 — /EuropaWire/ — Euronext has welcomed ShaMaran Petroleum Ltd. to Euronext Growth Oslo, where the company began trading under the ticker symbol SNM. The listing marks the 26th listing on Euronext in 2026 and the 12th international admission on Euronext so far this year.

ShaMaran Petroleum is an independent oil and gas company focused on exploration, development and production activities in the Kurdistan Region of Iraq. The company’s core assets are the Atrush and Sarsang Production Sharing Contracts, which together delivered gross production of more than 65,000 barrels of oil per day in 2025.

The transfer of ShaMaran’s primary listing to Euronext Growth Oslo forms part of the company’s strategy to improve share liquidity, broaden its investor base and strengthen access to capital markets. ShaMaran will also maintain its existing listing on Nasdaq First North Growth Market.

As part of the listing process, ShaMaran completed a private placement that raised NOK 10.8 million in gross proceeds and brought in more than 400 new shareholders. At market opening, the company’s share price stood at NOK 1.33 per share, giving ShaMaran a market capitalisation of NOK 3.84 billion on its first day of trading on Euronext Growth Oslo.

Chris Bruijnzeels, Chairman of ShaMaran, said the company was pleased to complete the primary listing of its shares on Euronext Growth Oslo and to welcome the more than 400 new investors who participated in the required retail offering. He noted that Oslo’s capital markets have strong familiarity with the Kurdistan oil and gas sector, adding that all equity and credit research analysts covering ShaMaran are based in Oslo and that the company’s corporate bonds were also issued in Oslo.

Bruijnzeels said the company expects the Oslo listing to attract new investors and increase trading liquidity over time, alongside ShaMaran’s secondary listing in Stockholm.

ShaMaran indirectly holds a 50% working interest in the Atrush Block and an 18% working interest in the Sarsang Block in the Kurdistan Region of Iraq. The company is part of the Lundin Group of Companies.

About ShaMaran Petroleum Ltd. 

ShaMaran is an independent oil and gas company focused on the Kurdistan region of Iraq. The Company indirectly holds a 50% working interest in the Atrush Block and an 18% working interest in the Sarsang Block. ShaMaran is part of the Lundin Group of Companies.

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SOURCE: Euronext