Carnegie has completed 46 IPOs YTD

Carnegie has completed 46 IPOs in 2021 year to date and maintains pole position as the undisputed Nordic IPO advisor!

Carnegie is the clear frontrunner when it to comes to Global Coordinator roles in Nordic IPOs. Back in June, we announced that Carnegie had broken records and had advised on 34 Nordic IPOs in the first half of 2021. That accumulative number has soared to 46 IPOs, despite the challenging market backdrop, with several IPOs being pulled in Europe in autumn 2021. Carnegie has raised approximately USD 16 billion for Nordic clients in IPOs so far this year.

Carnegie continues to top the rankings in Nordic Equity and for the fifth consecutive year running, Carnegie was awarded Number 1 in Nordic Equities according to the Kantar Sifo Prospera annual market survey ranking for Domestic Equity in Sweden, Finland, and the Nordic region. Carnegie also holds the top position among institutions internally according to the Institutional Investor Survey in 2021 and was awarded Best Nordic Research House by Financial Hearings in 2021.

Furthermore, we are pleased to announce that Carnegie has strengthened its already exceptional Nordic ECM and Syndicate capabilities, with the addition of Jens Plenov, who will join the Nordic ECM and Syndicate team as Managing Director & Head of ECM Denmark. Jens joins Carnegie from Danske Bank, where he was Global Head of ECM, a position he held for eight years in London. Prior to his role as Global Head of ECM, Jens had a long career at SEB/Enskilda.

A selection of Carnegie’s most recent IPOs are below.

• Global Coordinator in the IPO of Europe’s leading vehicle glass repair company, Cary Group, on Nasdaq Stockholm on 23^_rd September 2021. The implied market cap of the company was approximately SEK 9.2 billion, equivalent to a valuation multiple of 24x EV/EBITA 2022E.
• Global Coordinator in the IPO of Nordic consumer electronic accessories company, Kjell & Company, on Nasdaq First North. The implied market cap of the company was approximately SEK 1,700 million equivalent to a valuation multiple of 13x EV/EBITA 2021E. The company’s shares commenced trading 16^th September.
• Global Coordinator in the IPO of premium low voltage charger supplier, CTEK, on Nasdaq Stockholm on 24^th September. Latour acquired 31% of the shares for an amount of SEK 1,054 million in the IPO, corresponding to an approximate market cap of SEK 3,400 million which was a valuation multiple of 23x EV/EBITA 2021E.
• Global Coordinator in the IPO of fast-growing compounder of small and medium-sized enterprises, Storskogen, on Nasdaq Stockholm. The implied market cap of the company was approximately SEK 64 billion which was a multiple of 27x EV/EBITA 2022E. The company commenced trading on 6th October 2021.
• Global Coordinator in the IPO of leading global communication platform, Truecaller, on Nasdaq Stockholm. Implied market cap of Truecaller was approximately SEK 21 billion, equivalent to a valuation multiple of 44x EV/EBITDA 2022E. The company’s first day of trading was 8^th October 2021.
• Global Coordinator in the IPO of northern Europe’s largest player in rock handling and foundation solutions, Nordisk Bergteknik, on Nasdaq Stockholm on 12^th October 2021. The market cap of Nordisk Bergteknik in the IPO was approximately SEK 1,300 million which was a valuation multiple of 13x EV/EBITA 2022E.
• Global Coordinator in the IPO of Haypp Group on Nasdaq First North. The implied market cap of the company was approximately SEK 1,920 million. The company’s shares commenced trading 13^th October 2021.
• Global Coordinator in the IPO of data solutions company, Byggfakta, on Nasdaq Stockholm on 15^th October 2021. Implied market cap in the IPO was SEK 16,400 million equivalent to a valuation multiple of 26x EV/EBITA 2022E.
• Global Coordinator in the IPO of the global automated storage and retrieval system company, AutoStore, on the Oslo Stock Exchange. The implied market cap of the company was approximately NOK 103 billion which was a valuation multiple of 47x EV/EBITDA 2022E. AutoStore’s first day of trading was 20^th October 2021.
• Co-lead Manager on the IPO of Volvo Cars on Nasdaq Stockholm on 29^th October 2021. The approximate market cap of Volvo Cars in the IPO was SEK 158 billion.
• Global Coordinator in the IPO of the Nordic’s leading optician chain, Synsam, on Nasdaq Stockholm on 29^th October 2021. The implied market cap of Synsam in the IPO was SEK 7.5 billion, which was a valuation multiple of 12x EV/EBITA 2022E.

Reflecting over the extensive number of successful Carnegie IPO’s so far in 2021 Tony Elofsson, Head of Investment Banking, at Carnegie Sweden commented:
‘I am very grateful to our clients for putting their trust in Carnegie Investment Bank. Furthermore, I am deeply proud of Carnegie’s dedicated and hardworking team in delivering successful outcomes for our clients.’