Kjell Group AB (publ) (”Kjell & Company” or the ”Company”), a leading player in consumer electronics accessories, today announces the outcome of the offering of the Company’s shares (“the Offering”) and the listing of the shares on Nasdaq First North Growth Market. The Offering attracted very strong interest, both from institutional investors in Sweden and internationally as well as the general public in Sweden. The Offering was heavily oversubscribed.
The Offering in brief:
- As previously announced, the price per share in the Offering was SEK 55, corresponding to a market value of the Company’s shares of SEK 1,713m upon completion of the Offering.
- The Offering comprised 7,272,727 newly issued shares corresponding to approximately SEK 400m as well as 9,380,177 existing shares, which were offered by the principal owner FSN Capital IV as well as a few other shareholders (together with FSN Capital IV, the “Selling Shareholders”), corresponding to approximately SEK 516m. The total Offering, excluding over-allotment, amounted to approximately SEK 916m.
- In order to cover any potential over-allotment in connection with the Offering, the principal owner FSN Capital IV, Kjell Dahnelius, Marcus Dahnelius and Mikael Sundin have committed, upon request of the Joint Global Coordinators, to offer up to an additional 2,497,935 existing shares, corresponding to up to approximately SEK 137m or up to 15% of the total number of shares in the Offering (the “Over-allotment Option”).
- Provided that the Over-allotment Option is exercised in full, the total value of the Offering will amount to approximately SEK 1,053m, corresponding to approximately 61.5% of the total number of shares in the Company upon completion of the Offering.
- AMF Fonder, Carnegie Fonder, Fosielund Holding, Lazard Asset Management, LMK Venture Partners, RoosGruppen and Strand Kapitalförvaltning have acquired shares in the Offering for a total amount of SEK 523m, representing in aggregate 30.5% of the total number of shares in the Company upon completion of the Offering.
- The group management and the board of directors have entered into lock-up undertakings for a period of 360 days from the first day of trading on Nasdaq First North Growth Market. The other existing shareholders have entered into lock-up undertakings for a period of 180 days from the same point in time.
- Trading on Nasdaq First North Growth Market commences today, 16 September 2021, under the ticker “KJELL”.
- Settlement is expected to take place on 20 September 2021.
About Kjell & Company
Kjell & Company was founded in Sundsvall in 1988 by the three Dahnelius brothers and their father Kjell. The oldest brother, Marcus, initially led the company and the father, Kjell, who had worked most of his life in sales, contributed his expertise. The common denominator for all four founders was their great interest in technology combined with a knowledge and solution-centric approach, which also became the core of Kjell & Company’s identity. During the financial year 2020, net sales amounted to about SEK 2bn. Kjell & Company had, per 30 June 2021, about 1,200 employees and sales in three countries. Customer service and the customer’s technology needs has always, and continues to be, the foundation of Kjell & Company’s business.
Carnegie acted as joint global co-ordinator and joint bookrunner in connection with the IPO