Carnegie joint global co-ordinator and joint bookrunner in the IPO of K2A Knaust & Andersson Fastigheter AB

K2A Knaust & Andersson Fastigheter AB (publ) (“K2A” or the “Company”) is a fast-growing property company focusing on well-planned, area-efficient and sustainable rental apartments. The Company was founded 2013 with the business idea to long term own, develop and manage rental apartments and community service properties in Stockholm and Mälardalen as well as in several university cities in Sweden. The property portfolio currently comprise of more than 2,000 apartments under management and approximately an additional 400 under production. On 27 May 2019, the Company announced its intention to launch an initial public offering of its B-shares (the “Offering”) and to list its B-shares on Nasdaq Stockholm main market. K2A’s preference shares, listed on Nasdaq First North Premier, was transferred to Nasdaq Stockholm in conjunction with the listing of the B-shares.

The Offering in brief

  • The B-shares included in the Offering was offered to institutional investors in Sweden and abroad as well as to the general public in Sweden.
  • The Offering consisted of new share issue of B-shares, amounting to approximately SEK 230 million, as well as existing B-shares offered by Johan Knaust, CEO and founder of the Company, and Ludwig Holmgren, board member of the Company, corresponding to a maximum of approximately SEK 70 million. The total Offering amounted to approximately SEK 300 million.
  • Länsförsäkringar Fonder and SEB Småbolagsfond undertook, subject to certain conditions, to acquire B-shares in the Offering for an amount of SEK 150 million up to a total value of all outstanding ordinary shares prior to the new share issue of approximately SEK 910 million, corresponding to approximately 50 percent of the Offering.
  • Full terms, conditions and instructions for the Offering was included in the prospectus that was prepared by the Company in connection with the Offering. The prospectus was published on 10 June 2019.
  • Trading on Nasdaq Stockholm commenced on 20 June 2019 under the symbol (ticker) K2A B.

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