The Offering in brief:
- As previously announced, the price per share in the Offering was SEK 24, corresponding to a market value of all outstanding shares in the Company upon completion of the Offering to approximately SEK 3,701 million.
- The Offering included 20,833,333 newly issued shares and will bring the Company total proceeds of approximately SEK 500 million, before deduction of transaction costs related to the Offering, corresponding to 13.5 per cent of the total amount of shares and votes in the Company after the Offering.
- In order to cover any over-allotment in connection with the Offering, the principal shareholders, Summa Equity1, Greenfield AB2, Sjätte AP-fonden, Mats Ryding3 and Norelia AB4 (“Selling Shareholders”) have granted an over-allotment option to Joint Global Coordinators to acquire existing shares, corresponding to not more than 15 per cent of the number of shares in the Offering (the “Over-allotment Option”), which may be exercised in full or in part by the Joint Global Coordinators during the 30-day period from the first day of trading in the Company’s shares on Nasdaq First North Growth Market.
- Provided that the Over-allotment Option is exercised in full the Offering will include 23,958,332 shares, corresponding to an amount of SEK 575 million, which represents approximately 15.5 per cent of the total number of shares in the Company upon completion of the Offering.
- Funds managed by I&T Asset Management (Fondsmæglerselskabet Investering & Tryghed A/S) and Swedbank Robur Fonder, (together the “Cornerstone Investors”) have acquired shares in the Offering for an amount in total of SEK 230 million, corresponding to 46 per cent of the shares in the Offering. Swedbank Robur Fonder was prior to the Offering an existing shareholder of the Company.
- Trading in Pagero’s shares on Nasdaq First North Growth Market commences today, 22 October 2021, under the ticker “PAGERO”. Settlement is expected to take place on 26 October 2021.
Bengt Nilsson, CEO of Pagero, comments:
”This is a great milestone for Pagero and an important step towards realising our goal of making buying and selling processes easy for companies through a global and open business network. We look forward to accelerating continued expansion to make business communication easier, cheaper and more environmentally friendly around the world. I want to thank all of our employees for your work and commitment in Pagero’s continued growth – a journey that is far from over. I also want to thank our customers and partners in more than 140 countries for your trust and faith.”
Birger Steen, chairman of the board of directors of Pagero, comments:
”The interest to invest in Pagero have exceeded our expectations and we look forward to continue this growth journey together with all new shareholders. We see that businesses are increasingly investing time in becoming more sustainable, compliant and efficient with lower environmental impact. With an already proven business model, we look forward to starting this new chapter as a listed company and to help more businesses modernise their processes.”
Read more about Pagero here.