Carnegie financial adviser to NCAB in SEK 287m directed share issue
On Friday 24th April, Carnegie announced that it advised the long-standing client NCAB, on a directed share issue of 1,85 million shares with a subscription price of SEK 155 per share, which corresponded to Friday’s closing price and raising gross proceeds to NCAB of SEK 287 million. The proceeds of the share issue are to be used in the acquisition of US-based printed circuit board company, Bare Boards Group, for SEK 125m (which was announced on the same day), as well as improve the company’s financial flexibility to make future add-on acquisitions.
NCAB is a Nasdaq Stockholm-listed global supplier of advanced printed circuit boards and has physical presence in 17 countries, spanning Asia, Europe and North America, with clients in 45 countries worldwide. The entrepreneurial company, which was founded in Sweden in 1993, has an effective cost control culture, demonstrated good margins and strong top line growth since its formation. The company’s strategy is to continue to grow the business by acquisition, as well as organically.
Carnegie acted sole global co-ordinator and bookrunner in connection with the transaction.