Carnegie

Corporate Finance – 15 Jun 2018

Carnegie Joint Global Coordinator in the ISK 39,028 million / SEK 3,180 million IPO of Arion Bank on Nasdaq Iceland and Nasdaq Stockholm
Arion Bank was listed today on Nasdaq Iceland and the Nasdaq Stockholm. The shares were sold to retail investors in Iceland and Sweden as well as institutional investors in Iceland, Europe and the United States. The offering saw strong interest of both retail and institutional investors was multiple times oversubscribed at the final deal price

Overview of the IPO
- The Selling Shareholders have set the final price for ordinary shares offered in the Arion Bank IPO at ISK 75 per share on Nasdaq Iceland and SEK 6.11 per SDR on Nasdaq Stockholm.
- A total of 452,500,000 ordinary shares currently owned by the Selling Shareholders was placed in the IPO. Additionally, up to 67,875,000 ordinary shares have been made available from the holdings of the Selling Shareholder to cover potential over-allotments (the “Over-Allotment Securities”)
- Assuming the placement of all Over-Allotment Securities, the total offer volume amounts to ISK 39,028 million / SEK 3,180 million
- Arion Bank’s total market capitalization will amount to ISK 135,750 million / SEK 11,061 million and a free float of c.30.9% of Arion Bank’s outstanding share capital
- Arion Bank’s ordinary shares and SDRs started trading on Nasdaq Iceland and Nasdaq Stockholm under the ticker symbol ARION IR and ARION SDB respectively, on 15 June 2018 at 9:30 Icelandic time (GMT) / 11:30 (CEST)
About Arion Bank

Arion Bank is a leading, privately owned universal relationship bank in Iceland with a differentiated and innovative approach. Arion Bank has established itself as a broad and well-balanced bank that provides products and services which meet the needs of Icelandic households and companies. To ensure it is well-balanced and diversified in its product and services offering and expertise, Arion Bank has organised itself across four dedicated divisions, Retail Banking, Corporate Banking, Investment Banking and Asset Management. Arion Bank furthermore operates strategic subsidiaries that add valuable products and services to the business, such as payment processing, fund management and insurance. Arion Bank’s diversified and balanced approach to its business also means that it has a broad revenue base and a balanced and diverse loan portfolio with moderate risk profile serving individuals and companies. As a result, Arion Bank enjoys a strong position within domestic financial markets in terms of its return on equity, operational efficiency and product and services offering

Carnegie acted as Joint Global Coordinator in the IPO.
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Corporate Finance – 14 Jun 2018

Carnegie financial adviser to owners of Svensk Hypotekspension in sale to Nordax Bank

Nordax Bank has entered into an agreement to acquire Svensk Hypotekspension from the current owners. Svensk Hypotekspension has a unique position in Sweden within equity release, enabling elderly people who own property to enhance quality of life in a risk-free manner by releasing capital tied-up in their homes. Since its inception in 2005, Svensk Hypotekspension has built a loan book of more than SEK 3.5 bn and had approx. 5,000 active customers, by the end of December 2017.

The transaction is subject to regulatory approvals.

Carnegie acted as sole financial adviser to the owners of Svensk Hypotekspension in connection with the transaction.

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Corporate Finance – 14 Jun 2018

Carnegie sole bookrunner and lead manager in THQ Nordic SEK 1,448 million directed new share issue

THQ Nordic AB (“THQ Nordic”) has completed a directed new share issue of 7.7 million new Class B shares, resulting in a dilution of approximately 8.7 per cent of the number of shares and approximately 4.6 per cent of the number of votes, at a subscription price of SEK 188 per share. The directed new share issue was directed to a large number of Swedish and international institutional investors.

The gross proceeds amounted to approximately SEK 1,448 million. THQ Nordic intends to use the proceeds from the Directed new share issue to finance new acquisitions of franchises, game development studios or other objects which complement the operations, and enable a higher rate of investment in the development of the Company.

About THQ Nordic

THQ Nordic acquires, develops and publishes PC and console games for the global games market. The company is a major player within game and partner publishing with an extensive catalogue of over 100 owned franchises, such as Saints Row, Dead Island, Homefront, Darksiders, Metro (exclusive license), Titan Quest, MX vs ATV, Red Faction, Delta Force, Destroy All Humans, ELEX, Biomutant, Jagged Alliance, SpellForce, The Guild amongst others. THQ Nordic has a global publishing reach within marketing, sales and distribution, both online and offline. The company has a global presence, with its group head office located in Karlstad, Sweden and with operational offices in Vienna, Austria and Munich, Germany. The group has ten internal game development studios based in Germany, UK, USA and Sweden and contracts with 26 external game studios in a number of different countries. THQ Nordic engages more than 1,700 people. THQ Nordic’s shares are publicly listed on Nasdaq First North Stockholm under the ticker THQNB:SS with FNCA Sweden AB as its Certified Adviser.

Carnegie acted as sole bookrunner and lead manager in connection with the directed new share issue.

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Corporate Finance – 13 Jun 2018

Carnegie Joint Bookrunner in EUR 246 million Stora Enso R-share placing

Solidium has placed 14 million R-shares in Stora Enso Oyj, representing approximately 1.8 per cent of the outstanding share capital of Stora Enso, in an accelerated bookbuilt offering to Finnish and international institutional investors, at a price of EUR 17.60 per share. Solidium will use the proceeds from the Equity Offering of approximately EUR 246 million mainly to finance new equity investments and to general corporate purposes.

Carnegie acted as Joint Bookrunner for the Equity Offering.

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