You cannot buy unlisted shares through a share savings account.
Unlisted shares
You can buy and sell unlisted Norwegian shares registered on the NOTC list through us.
Shares that are not listed in the marketplace
Courses and trading available in our equity trading service
Trade every working day between 09:00–16:25
You can buy unlisted shares by logging in, but to change and delete orders you need to call us.
What are unlisted shares?
Unlisted shares are shares that are not listed on the stock exchange. Most limited companies are not listed on the stock exchange, but there may still be an interest in selling and buying the shares. A list has been made of which unlisted shares can be traded through Norwegian brokerage companies, this is called the NOTC list. NOTC stands for Norwegian Over the Counter.
Because an unlisted share is traded outside of a regulated marketplace, trading can take time. In other words, the shares are less liquid.
In DNB you can buy unlisted Norwegian shares
DNB Markets is one of the companies associated with the NOTC list. This means that you can buy unlisted shares in our online equity trading service, but to change or delete orders, you need to call our brokerage board. Our brokers will then execute the trade for you with the seller’s broker, and the share will be placed in your portfolio.
Click on the button below to see a full overview of the companies that are on the NOTC list.
Are you interested in buying or selling a share that is not on the stock exchange? Call us.
How to buy unlisted shares
The unlisted market is not fully automated. You can place orders through the online equity trading service, but to make a change you need to call our sales desk on (+47) 915 08 940.
Trades can be closed manually over the telephone between brokers, and then registered by us in the NOTC system. When the trade is confirmed from the other broker, we register the trade as completed and you will see it in your portfolio summary online.
The manual order and trade flow means that you cannot expect a trade to be executed or registered on the NOTC list as soon as an order has been registered on the equity trading service. We aim to execute orders in the most efficient way possible but cannot guarantee that orders will be executed and reported within a given timeframe.
Changing/cancelling orders
It is not possible to cancel or change an order online during the stock exchange day. If you want to change/cancel, call (+47) 915 08 940 and quote your order number.
NB: Orders in unlisted shares that are not on the NOTC list must be called in on (+47) 915-08940
What does NOTC stand for?
OTC stands for Over-The-Counter trades. This is a manual trade in shares that do not satisfy the criteria for being listed on a traditional stock exchange. The “N” stands for Norwegian.
In DNB Markets, you can buy unlisted Norwegian shares, but not US or European ones. Unlisted shares are defined as a “complex product” and in order to trade these, all customers need to answer a number of questions to show they understand the product. This is compulsory.
You need to take a test
Unlisted shares often carry a higher risk.
Before you can trade unlisted shares, you need to take a test. This is done under the ‘complex products’ tab on your profile.
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