Strong interest in Nederman – the Offering 11 times subscribed
There has been strong interest in purchasing shares in conjunction with the IPO of Nederman. The Offering, which comprised a total of 7,381,898 shares, was 11 times subscribed. Through a bidding procedure, the final offer price was set at SEK 87 (EUR 9.4) per share, corresponding to a total market capitalisation for Nederman in excess of SEK 1 billion (EUR 110 million).
The Vendor, EQT Danmark (“EQT”), has also granted Handelsbanken Capital Markets an over-allotment option, which can be exercised within 30 days of the first day of trading on the Stockholm Stock Exchange, whereby the Vendor has undertaken to sell up to 759,901 additional shares upon request by Handelsbanken Capital Markets in order to cover any over-allotment in connection with the Offering.
Prior to the Offering, EQT owned 92.7 percent of the shares. Following the Offering but prior to exercise of the over-allotment option, EQT will own 3,473,835 shares, corresponding to 29.7 percent of the shares. If the over-allotment option is exercised in full, EQT will own 23.2 percent of the shares.
The share will be listed tomorrow, May 16, 2007 on the Stockholm Stock Exchange.
Caspar Callerström, Partner at EQT Partners said: “During EQT’s seven years as owner, Nederman has evolved into a global, leading provider of products to improve the work space environment. The management and employees of Nederman, led by CEO Sven Kristensson, have successfully positioned the company, improved production efficiency and replaced almost 80 percent of the product range with new products. That strategy has led to excellent results and we are very happy that the company is now entering its next stage as a listed company.”
Sven Kristensson, CEO of Nederman said: “During the last two weeks we have encountered strong interest in Nederman and our products and systems for a better personal working environment, from customers, investors and the public. Now we look forward to delivering the growth and results that everybody expects from us”.
Handelsbanken Capital Markets was lead manager and book runner for the Offering.
This press release is for information purposes only and does not constitute an offer to sell or a solicitation for an offer to buy any securities.
These materials are not an offer of securities for sale in the United States. Any securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, (the Securities Act), and may not be offered or sold in the United States absent registration or pursuant to an available exemption from registration under the Securities Act. Any public offering of securities of Nederman to be made in the United States would have to be made by means of a prospectus that could be obtained from Nederman and that would contain detailed information about the company and management, as well as financial statements. Neither Nederman nor EQT Danmark Fund intends to register any securities referred to herein in the United States.
The information contained herein is not for publication or distribution to persons in the United States of America.