Nordnet announces price range for IPO on Nasdaq Stockholm
Digital savings and investments platform Nordnet AB today announced the price range for its planned initial public offering (IPO) on Nasdaq Stockholm.
The final price in the Offering is expected to be set within a range of SEK 88-104 per share, resulting in a total market value of all issued shares of the company of approximately SEK 22,000 – 26,000 million.
The final offering price is expected to be announced on November 25, 2020.
The Offering comprises 94,000,000 existing shares, corresponding to approximately 38% of the total number of shares in the Company, which are being offered by Nordic Capital, Öhman Intressenter AB and E. Öhman J:or Intressenter II AB. In order to cover any over-allotment in connection with the Offering, Nordic Capital and Öhman Intressenter have committed to sell up to 14,100,000 additional existing shares, corresponding to 15% of the total number of shares in the Offering.
If the Over-Allotment Option is exercised in full, the Offering will comprise a total of 108,100,000 shares, corresponding to approximately 43% of the total number of shares in Nordnet.
The Offering includes:
- (i) an offer to the general public in Sweden, Norway, Denmark and Finland; and
- (ii) an offer to institutional investors in Sweden and other jurisdictions in accordance with applicable laws and exemptions.
The first day of trading is expected to be November 25, 2020 under the trading symbol “SAVE”.
As FX News Group has reported, the Board of Directors and the executive management team of Nordnet, together with the Nordnet’s principal shareholders, the Öhman Group and Nordic Capital, believe that the time is now appropriate for a re-listing of Nordnet. The Öhman Group will remain a substantial shareholder following the listing and is committed to participate in the future development and growth of Nordnet.
Nordic Capital will also retain board representation and ownership in Nordnet following the IPO and the listing and intends to continue to support the company’s development going forward.
Nordnet’s Board of Directors and executive management team believe that a listing on Nasdaq Stockholm will benefit the company by strengthening its profile through increased brand awareness at a time of accelerated growth and development. It is also Nordnet’s belief that the opportunity to own shares in Nordnet may lead to increased engagement from employees as well as customers.