Nordic Waterproofing Holding A/S

Nordic Waterproofing Holding A/S (”Nordic Waterproofing” or the ”Company”) today announces the outcome of the offer to acquire its shares in connection with the Company’s Initial Public Offering (the “Offering”). The Offering attracted strong interest among both Swedish and international institutional investors as well as among the general public in Sweden. The Offering was over-subscribed multiple times.

The Offering in brief

• The Offering price has been set at SEK 71 per share, corresponding to a market capitalization of the Company of approximately SEK 1,710 million. 
• The Offering was increased in accordance with the terms of the Offering by 2,408,394 shares, implying that a total of 14,450,362 shares, corresponding to 60.0 percent of the total number of shares in Nordic Waterproofing, were sold by the owners Axcel, KIRKBI, certain board members, senior executives and employees of the Company, and Advisors to Axcel.
• In order to cover any potential over-allotment in relation to the Offering, Axcel and KIRKBI have, on request from Joint Global Coordinators and Joint Bookrunners, undertaken to offer up to 2,167,554 additional shares (the “Over-Allotment Option”), corresponding to up to 15.0 percent of the number of shares in the Offering.
• Assuming the Over-Allotment Option is exercised in full, the Offering will comprise 16,617,916 shares, corresponding to approximately 69.0 percent of the total number of shares in the Company and to a total value of SEK 1,180 million.
• The Offering consists of existing shares only. The Company will not receive any proceeds from the sale of the shares in the Offering.
• Approximately 8,000 investors have been allotted shares in Nordic Waterproofing and all investors who have applied for acquisition of shares within the Offering to the general public in Sweden have been allocated shares.
• AMF, Carnegie Fonder and Swedbank Robur Fonder (the ”Cornerstone Investors”) have altogether acquired shares corresponding to 31.50 percent of the total number of shares in the Offering, or 22.83 percent assuming the Over-Allotment Option is fully exercised, and 2.75, 5.50 and 7.50 percent respectively, 15.75 percent in total, of the total number of outstanding shares in the Company, corresponding to SEK 269 million.
• Following completion of the Offering and assuming that the Over-Allotment Option is exercised in full, Axcel and KIRKBI will hold 23.18 percent and 4.09 percent of the total number of shares in Nordic Waterproofing, respectively.
• Trading in the Nordic Waterproofing share on Nasdaq Stockholm commences today, June 10, 2016, with the ticker symbol “NWG”.

Carnegie is acting as Joint Global Coordinator and Joint Bookrunner.