MUNICH: Nordec Group Corporation, a portfolio company of Mutares SE & Co KGaA, intends an initial public offering (IPO) with subsequent listing on Nasdaq First North Growth Market Finland, a multilateral marketplace maintained by Nasdaq Helsinki Ltd.
Trading of the shares on the Nasdaq First North Growth Market Finland is expected to commence on or about June 23, 2022.
In the IPO, Nordec’s current sole shareholder, Donges SteelTec GmbH, a wholly-owned subsidiary of Mutares, will offer to purchase a certain part of its shares in Nordec. Mutares aims to raise net proceeds of up to approximately EUR 22 million from this partial exit of Donges.
After the IPO, the remaining shareholding of Donges will fall to below 50% with a current valuation of approximately EUR 30 million.
Nordec and Donges will jointly decide on the execution of the IPO, the final number of offered shares and the allocation of offered shares on or about June 22, 2022.
Nasdaq First North Growth Market is a division of Nasdaq Nordic and an alternative stock exchange (legally a multilateral trading facility) for smaller companies in Europe.
For more than ten years Nasdaq First North has served as an important growth platform, enabling Nordic and international entrepreneurs to access growth capital to develop and expand their businesses. There is a well-functioning ecosystem surrounding Nasdaq First North, with advisers facilitating a smooth listing process and a range of investors supporting the market, from retail investors to institutional capital.
A company can join Nasdaq First North Growth Market regardless of the country of origin or industry sector. A key factor for success is that there is investor interest for the company’s share.
The Nordic region boasts the largest retail presence in the world per capita, with small private investors and professional investors taking an active role in the market.