How Norconsult Achieved IPO Success

70% Employee Participation, Full Compliance, and a Future-Ready Equity Program

ESPP

Sandvika, Norway

5000+

The Challenge

Launching 5,000+ Employee Shares While Meeting Key IPO Compliance Requirements

As the company prepared to go public in Q4 2023, Norconsult faced several challenges associated with its equity programs.

While Norconsult had established a strong employee ownership culture, its in-house software and manual processes couldn't support the scale of an IPO. In addition, launching a gift share plan for over 5,000 employees across multiple regions—each with unique regulatory and tax requirements—posed logistical and compliance hurdles, including strict IFRS-2 reporting standards.

Recognizing these challenges, the team needed expert advice to design market-aligned programs and hands-on administrative support for efficient implementation.

"We needed a partner who could take ownership of the entire equity compensation process," explained Dag Fladby, CFO at Norconsult. "With complex reporting standards and varying tax regulations across our operating countries, we couldn't afford to get bogged down in manual administration or risk compliance issues."

The Solution

Powerful Equity Management Platform Enhanced by Local Expertise and End-to-End Administrative Support

Optio stepped in as a trusted partner to ensure Norconsult’s equity compensation program was implemented on time and with precision. Combining their state-of-the-art software platform with local expertise, Optio delivered a solution tailored to Norconsult’s needs. The platform supports Norconsult with:

• Robust Financial Reporting: Embedded Black-Scholes valuation models and IFRS-2 reporting ensure compliance with stock exchange requirements.
• Employee Portal: A user-friendly portal allows employees across Europe to track their share allocations and simulate potential future gains, increasing engagement and transparency.
• Tax and Regulatory Localization: Optio’s software addresses country-specific requirements, including 7P tax reporting for Denmark and tax-optimized discount calculations for Norway.

Additionally, Norconsult benefits from Optio’s experience with IPOs and equity programs in Europe. Optio provided practical recommendations and insights, helping Norconsult align its equity plan with market best practices. Furthermore, Optio handled every aspect of administration, including:

• Managing participant communications, answering employee inquiries, and holding informational sessions.

• Preparing necessary documentation, such as terms and conditions, stock exchange notices, and bank-related workflows.

• Integrating with Norconsult’s HR system to ensure efficient reporting across subsidiaries.

"The participation and engagement level from Norconsult employees was fantastic," shared Malin Nyhuus, Optio's VP of Customer Success. "It was one of the largest participant meetings we've ever had with our clients. Norconsult’s employees asked thoughtful, detailed questions, showing their genuine interest in the program."

The Result

70% Participation, Full Compliance, and a Strong Foundation for Employee Ownership

The results of Norconsult’s partnership with Optio speak for themselves. Norconsult achieved a remarkable employee participation rate, ensured full compliance with IPO requirements, and reduced administrative burdens. Beyond the IPO's success, the partnership has expanded equity programs that foster long-term employee engagement and retention.

• 70% Employee Participation: Participation was far above the industry average of 20–30%, demonstrating employee engagement and trust in the company’s ownership culture.

• IFRS-2 Compliance: Optio’s software ensures accurate calculations and reporting, meeting all regulatory audits and stock exchange requirements.

• Operational Efficiency: Optio’s integrations and extensive administrative support dramatically reduced administrative burden.

• Improved Employee Transparency: Employees across Europe can access real-time equity value via the Optio employee portal, improving understanding and engagement.

• Foundation for Program Expansion: Following the success of the gift share program, Norconsult continued its partnership with Optio in 2024 with more comprehensive Employee Share Programs, which include discounted shares, matching shares, and programs for executive management and other key employees.

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