Hemnet Group AB (publ) (“Hemnet”), the leading property platform in Sweden, yesterday announced the outcome of the Initial Public Offering of the Company’s shares (the “Offering”) and the listing of the shares on Nasdaq Stockholm.
The Offering attracted very strong interest from Swedish and international institutional investors and the general public in Sweden and was substantially oversubscribed.
Trading on Nasdaq Stockholm commenced today, 27 April 2021.
The Offering in Brief:
- The final price in the Offering is SEK 115 per ordinary share, corresponding to a total market value of all listed ordinary shares of the Company of MSEK 11,630.
- The Offering comprised approximately 17.7% of the ordinary shares of the company, and a total of approximately 19.5% if the over-allotment option is fully exercised.
- The total value of the Offering will amount to MSEK 2,263 if the Over-Allotment Option is exercised in full.
- Sellers are General Atlantic, Sprints Capital, Care of Hemnet and certain other shareholders, including certain members of the Board of Directors and executive management.
- General Atlantic and Sprints Capital will, immediately following the Offering and assuming the Over-Allotment Option is exercised in full, remain as Hemnet’s largest shareholders holding approximately 41.1 and 11.8 percent of the total number of listed ordinary shares.
Carnegie acted joint global co-ordinator and joint bookrunner in connection with the IPO