Carnegie ECM & DCM


Carnegie’s top rankings in research sectors

In Financial Hearings’ annual ranking of Swedish brokers, no other company was awarded more top rankings in research sectors than Carnegie. The ranking was based on interviews with the largest financial institutions in Sweden. Carnegie achieved a top ranking in 12 out of a total of 20 surveyed sectors, as well as the three best individual rankings, where Peter Lagerlöf, head of research at Carnegie, was named best overall analyst in Sweden for the fourth consecutive year. 

Financial Hearings is a financial communications specialist and conducts annually independent quality surveys of equity research in the Swedish market.

 

Case study

Carnegie divestment of Cloetta shares

Since November 2012, Carnegie has completed three highly successful ECM transactions in Cloetta following the merger with Leaf. The transactions were carried out as secondary selldowns for previous main owners CVC and Nordic Capital. Several top 10 owners in Cloetta today have entered through Carnegie’s ECM transactions. In addition, Carnegie has facilitated multiple smaller block sales for associated shareholders in Cloetta.

Cloetta – (May 2013 selldown)

  • On 21/22 May 2013, Carnegie brokered 45 million shares in Cloetta (representing 15.6% of total shares) with a transaction value of SEK 792 million
  • The placing was executed as an accelerated bookbuilding off market hours with strong interest among Swedish and international investors
  • The offering was upsized from 30 million shares to 45 million shares
  • The shares were sold at 4.9% discount to the then prevailing trading price of the Cloetta share

Cloetta – (February 2013 selldown)

  • On 20/21 February 2013, Carnegie brokered 34 million shares in Cloetta (representing 11.8% of total shares) with a transaction value of SEK 502 million
  • Structured as a demand-driven trade, rather than a traditional sell-side initiated bookbuilding
  • The shares were sold at 1.7% discount to the then prevailing trading price of the Cloetta share

Cloetta – (November 2012 selldown)

  • On 27/28 November 2012, Carnegie brokered 21 million shares in Cloetta (representing 7.3% of total shares) with a transaction value of SEK 278 million
  • Structured as a demand-driven trade, rather than a traditional sell-side initiated bookbuilding
  • The shares were sold within closing bid/ask spread and only at 1% discount to closing price
    – Lannebo entered as a new significant shareholder
    – Transaction considered very successful in the market
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