Work with luminaires for heavy work machines Nordic Lights will begin its IPO tomorrow, Tuesday, at 10 a.m. The offering will end no earlier than July 1, 2022 at 4 p.m.
In the listing of Nordic Lights, the subscription price for the public offering is EUR 5.02 per share.
Through the share issue, the company aims to raise approximately EUR 15 million in gross assets by offering a maximum of 2,992,455 new shares for subscription.
The market value of Nordic Lights before the IPO will be EUR 90 million and the capital raised from the IPO will be approximately EUR 105 million.
Sale of shares in connection with the issue
Sponsor Capitalpension company How much and some other current owners of Nordic Lights will sell a total of 2,988,048 shares in connection with the IPO, or approximately an antipot of EUR 15 million.
In addition, Sponsor and Elo may sell a total of up to 897,075 additional shares to cover oversupply situations in connection with the IPO.
The largest shareholders are Sponsor Fund IV Ky, Elo and Purmo Autic Oy Ab will remain significant shareholders after the IPO.
If the IPO is carried out as planned, the Sponsor will own approximately 35% of all shares and votes in Nordic Lights immediately after the IPO (assuming the sellers sell the maximum number of shares to be sold, the additional share option will be exercised and the issue will be exercised in full.
Trading in Nordic Lights shares is expected to begin on the stock exchange’s First North list on or about July 6, 2022.
The subscription period for the public issue and the personnel issue will end approximately on July 1, 2022 at 4:00 pm, unless the subscription periods are suspended or extended. The subscription period for the institutional issue is expected to end on 5 July 2022 at 11.00 am, unless the subscription periods are suspended or extended.
Anchors
Swedbank Robur Fonder, Mutual Pension Insurance Company Ilmarinen, Thomasset OyS-Bank Fenno Share, Oy Julius Tallberg AbDanske Invest Finland Equity Fund and certain SP Fund Management Company Ltd the funds managed by the issuer are involved in the issue as anchor investors and a comprehensive number of shares have been reserved for the issue and the sale of shares.
Anchor investors have committed to subscribe for Nordic Lights shares in the following amounts: Swedbank Robur Fonder EUR 5.5 million; Ilmarinen Mutual Pension Insurance Company EUR 4.7 million; Thomasset Oy EUR 2.5 million; S-Bank Fenno Share EUR 1.8 million; Oy Julius Tallberg Ab EUR 0.5 million; Danske Invest Finland Equity Fund EUR 3.0 million; and certain funds managed by SP Fund Management Company Ltd EUR 2.0 million.
A total of EUR 20 million of the EUR 30 million anti-pot and sale pot has been allocated to the anchors.
Awareness and cash flow are strengthening
According to the company, the goal of the IPO and First North listing is to promote the implementation of Nordic Lights ‘growth strategy and increase Nordic Lights’ awareness among various stakeholders.
The First North listing would also allow the company to enter the capital markets and expand its ownership base, which would increase the liquidity of the shares. According to the company, the listing of First North and increased liquidity would also enable the more efficient use of shares as consideration for possible acquisitions and the remuneration of personnel.
According to the company, the proceeds from the share issue will be used to ensure Nordic Lights’ strong financial flexibility, including the partial repayment of long-term loans, to strengthen operations and support the company’s growth strategy. This includes possible corporate and business acquisitions.