Carnegie acted joint global co-ordinator and joint bookrunner in the IPO of RugVista Group

RugVista Group AB (publ) ( “RugVista Group” or the “Company”), one of the leading European direct-to-consumer online platforms within carpet and rug sales, today announces the outcome of the initial public offering of its shares (the ”IPO” or the ”Offering”) on Nasdaq First North Premier Growth Market. The Offering attracted very strong interest from Swedish and international institutions as well as the general public in Sweden. The Offering was heavily oversubscribed. Trading on First North Premier commences today, 18 March 2021

The Offering in brief:

  • The final price in the Offering was SEK 125 per share, corresponding to a total market value of the Company of approximately SEK 2.5 billion
  • The Offering comprised 12,366,752 existing shares, corresponding to approximately 61.0 percent of the total number of outstanding shares in the Company3 and a total value of approximately SEK 1.5 billion, which were offered by the main shareholder Litorina IV L.P. (”Litorina”) and a few other shareholders (together the “Selling Shareholders”)
  • In order to cover any over-allotment in connection with the Offering, the Selling Shareholders have committed to sell up to 1,557,528 additional existing shares, corresponding to 12.6 percent of the number of shares in the Offering (the “Over-Allotment Option”)
  • If the Over-Allotment Option is exercised in full, the Offering will comprise a total of 13,924,280 shares, corresponding to approximately 68.7 percent of the total number of shares in the Company
  • Teknik Innovation i Norden Fonder AB (TIN Fonder), Roosgruppen AB, Knutsson Holdings AB, OstVast Capital Management Ltd, Adrigo Asset Management AB, Alcur Fonder AB, Fosielund Holding AB, Gornergrat Capital AB4, Lhotse Capital AB5 and LMK Venture Partners AB have, subject to certain conditions, undertaken to acquire shares in the Offering corresponding to an aggregate value of SEK 820 million. The undertakings, based on an offering price of SEK 125 per share, represent, 31.6 percent of the total number of outstanding shares in the Company after the Offering and 47.1 percent of the number of shares in the Offering if the Over-Allotment Option is fully exercised
  • Members of the executive management team and shareholding board members have entered into customary lock-up undertakings for a period of 360 days after the first day of trading on First North Premier. Litorina and the other Selling Shareholders who are not members of the executive management team nor a shareholding board member have entered into customary lock-up undertakings for a period of 180 days from the same point in time
  • Trading on First North Premier commences today, March 18, 2021, under the ticker ”RUG”. Settlement will take place on March 22, 2021

About RugVista Group

RugVista Group is one of the leading European direct-to-consumer online platforms within carpet and rug sales through its online stores in 20 different languages, through the RugVista and CarpetVista brands. The Company was founded in 2005 and offers a broad and relevant range of quality design and traditional carpets and rugs. RugVista Group offers its EU based customers free deliveries and returns free of charge. RugVista Group’s operations are divided into three segments: B2C, B2B, and Marketplaces & Other. The B2C segment represents the consumer market and is the Company’s core segment

Carnegie acted as joint global co-ordinator and joint bookrunner in connection with the transaction.