Stock market|Framery’s IPO and sale have been oversubscribed many times over. Due to the suspension of the offering, the start of the company’s trading on the stock exchange will be earlier.
Soundproofed the IPO of Framery, which manufactures phone booths and workspaces, is suspended due to multiple oversubscription.
Despite the oversubscription, the company’s issue will not be suspended until today, Friday at 4 p.m.
The listing of the Tampere-based company is now proceeding at a fast pace, as the registration of shares in the initial public offering and sale only started on Tuesday.
The first opportunity to suspend the offering was on Thursday.
The final result of the share issue and sale will be announced on Monday, when the final subscription price of the shares will also be announced.
Now the preliminary price range was 7.30–8.00 euros.
Interruption therefore, the schedule for Framery’s listing on the stock exchange will be brought forward. Trading in shares starts on the pre-list as early as next Tuesday, December 2, and on the main list next Thursday, December 4.
The company’s goal was to collect gross assets of around 20 million euros in the initial public offering by issuing new shares. In addition, the company’s owners are selling their shares for around 180 million euros.
The largest owner of Framery has been the private equity company Vaaka Partners, which still remains the owner of the company with a slightly smaller share than before. It has owned a good third of Framery.
The funds collected in Ann are intended to strengthen Framery’s capital structure. In addition, the company plans to use the funds to develop its smart office system, which is its key focus area.