Carnegie joint global co-ordinator and joint bookrunner in the IPO of Pexip

Pexip Holding ASA (“Pexip” or the “Company”), has announced the successful completion of its IPO, and will start trading on the Oslo Stock Exchange 14 May 2020

The offering in brief

  • The price per Offer Share is set at NOK 63.00, corresponding to a market capitalisation of Pexip after the IPO (but before any issuance of new shares in connection with a potential exercise of the Greenshoe Option) of approximately NOK 6.3 billion
  • Pexip will issue 17,000,000 new shares in the IPO, raising gross proceeds of NOK 1,071 million
  • The selling shareholders will sell 17,000,000 shares in the IPO, for total gross proceeds of NOK 1,071 million
  • The Joint Global Coordinators have over-allotted 4,000,000 shares in the Offering, representing approximately 11.8% of the new and secondary shares sold
  • The total IPO transaction size is 38,000,000 shares, with gross proceeds amounting to NOK 2,394 million. Following completion of the IPO, the free float of Pexip will be approximately 80%
  • The Company will have 99,011,389 shares outstanding following the issuance of the new shares in and connection with the IPO, where the new shares issued in the Offering will represent approx. 17% of the shares in issue. The number of shareholders will exceed 7,000
  • The IPO was solely marketed virtually over the Pexip videoconferencing platform, and attracted strong interest from a high number of Nordic and international institutional investors, as well as retail subscribers in Norway and Sweden
  • The Offering generated total demand in excess of NOK 30 billion, and was more than 20 times oversubscribed excluding shares pre-allocated to cornerstone investors
  • Trading in the shares in Pexip on the Oslo Stock Exchange commences 14 May 2020 under the ticker “PEXIP”

About Pexip
Pexip is a global technology company delivering a video-first meeting platform with 15% of the Global Fortune 500 companies as customers. The Company’s product offering is a highly scalable, cloud-native meeting platform that is deployable either as a service or a self-hosted solution in any public or private cloud environment. All offerings build on Pexip’s unique Infinity technology, and are delivered via a recurring subscription-based business model. The Company has more than 300 channel partners located in about 75 countries worldwide.

Carnegie acted as Joint Global Co-ordinator and Joint Bookrunners in connection with the transaction.