New share issue and IPO in Clavis Pharma ASA (NO) — NOK 242 million

Carnegie acted as lead manager in the new share issue of 4.88 million new shares at a price of NOK 45.50 per share, followed by a listing on the Oslo Stock Exchange. The new shares correspond to approximately 37 per cent of the capital of Clavis Pharma. Clavis Pharma develops new and superior pharmaceuticals based on its proprietary Lipid Vector Technology. June, 2006.