Carnegie Joint Global Coordinator in the EUR 876 million IPO of Terveystalo, the largest ever non-privatisation IPO in Finland in recent history.
The Board of Directors of Terveystalo has announced the completion of the Offering today. The subscription price for the Offer Shares was EUR 9.76 per share in the Institutional and the Public Offering, and EUR 8.79 per share in the Personnel Offering, corresponding to a company market capitalisation of approximately EUR 1,250 million, immediately following the Offering.
Terveystalo is a leading private healthcare service provider in Finland offering primary and outpatient secondary healthcare services to corporates, private and public sector customers. Terveystalo is the market leader in occupational healthcare in Finland and provides a nationwide reach through its approximately 180 clinics and digital platform.
In 2016, the Company had approximately 1.0 million individual customers as well as approximately 2.7 million doctor visits, accounting for 12 percent of the total doctor visits in Finland. As at June 30 2017, Terveystalo had approximately 4,445 employees (including part-time employees).
The Company will receive gross proceeds of approximately EUR 100 million from the Offering. Demand from Finnish and international investors was strong and the Offering was multiple times oversubscribed. Trading of the Company’s shares is expected to commence on the pre-list of the Helsinki Stock Exchange on October 11, 2017 and on the official list on October 13, 2017.
Carnegie acted as Joint Global Coordinator and Joint Bookrunner in connection with the Offering.