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Telenor stock afloat

Norway's Telenor ASA has made its debut on the NASDAQ and Oslo stock markets, but in the first two days of trading investors seemed to take little notice.

On the technology-heavy NASDAQ market in New York, the stock has fallen 7 percent from its initial public offering price (IPO) despite a 10.5 percent leap in the market as a whole on Tuesday. In Oslo, the stock is down 9 percent from its IPO price. "Even though we could have wished for better market conditions, the offer has provided us with significant capital, and our extended shareholder base gives us a strong platform to support our strategies for growth," Telenor Chief Executive Tormod Hermansen said in a news conference before the debut.