Mid-year update 2026: M&A and IPO trends and insights in Norway
Wiersholm’s Corporate team have taken a closer look at how M&A transactions and IPOs are faring in Norway in the first half of 2026.
In our 19th edition of the Wiersholm M&A and IPO trend report, we once again analyse the Norwegian transaction landscape and share our perspectives on M&A and IPO prospects for the period ahead.
The Norwegian M&A market remained resilient in H1 2026, despite changing macroeconomic conditions, geopolitical uncertainty and shifts in investor sentiment. Buyers have continued to be selective and price-disciplined, but activity levels indicate that high-quality Norwegian assets still attract interest, particularly in sectors supported by long-term structural drivers.
Interest rate expectations, inflation, currency movements and global uncertainty have all affected market conditions. Even so, investors appear more comfortable operating in this environment than they were in the recent past. Strategic buyers and financial sponsors continue to pursue transactions where the case for growth, consolidation or long-term value creation is clear.
The public markets presented a mixed picture in H1 2026. Public M&A activity was selective and lower by deal value than in recent years, with a limited number of announced transactions driven by clear strategic or financial rationale. By contrast, IPO and listings activity showed renewed momentum, with 13 listing events across Euronext Oslo trading venues, including two IPOs on Oslo Børs, several new admissions on Euronext Growth Oslo, uplistings and alternative listing routes such as reverse takeovers and spin-offs.
Overall, the Norwegian M&A market enters the second half of 2026 with a constructive outlook, supported by international interest, active financial sponsors and continued demand for businesses positioned within technology, industrial capacity, energy, infrastructure and other strategically important sectors.
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