Lime Technologies AB (publ) (“Lime” or the “Company”) announced 6 December 2018 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 was substantially over-subscribed and attracted very strong interest from institutional investors in Sweden and internationally as well as from the general public in Sweden.
The Offering in brief
- As previously announced, the price per share in the Offering was SEK 72, corresponding to a total value of the outstanding number of shares in Lime of SEK 900 million
- Furthermore, the Main Shareholder has undertaken through an Over-allotment Option to sell a maximum of 664,239 additional existing shares in the Company, corresponding to SEK 47.8 million and 15.0 percent of the total number of shares in the Offering (the “Over-allotment Option”)
- Assuming a full exercise of the Over-allotment Option, the value of the Offering will amount to SEK 366.7 million and correspond to 40.7 percent of the total number of shares in the Company upon completion of the Offering
- The Offering comprised 4,428,261 existing shares in Lime, corresponding to SEK 318.8 million, which were primarily offered by the Main Shareholder (Monterro 1 AB)
- The Offering was substantially over-subscribed and attracted very strong interest from institutional investors in Sweden and internationally as well as from the general public in Sweden
- In accordance with their commitments, Swedbank Robur Fonder AB, Aktiebolag Grenspecialisten, LMK Venture Partners AB, RoosGruppen AB and C Worldwide Asset Management (together ”Cornerstone Investors”) have acquired a total of 2,038,888 shares for a total of SEK 146.8 million in the Offering, corresponding to 40.0 percent of the shares in the Offering, assuming that the Over-allotment Option is exercised in full
- Erik Syrén, CEO of Lime, has via his wholly owned company Syringa Capital AB been allocated 97,222 shares, corresponding to SEK 7.0 million, and will thus increase his ownership in Lime from 10.0 percent before the Offering to 10.8 percent of the total number of shares in Lime after completion of the Offering
- Immediately following completion of the Offering, assuming that the Over-Allotment Option is exercised in full, Lime’s largest shareholders will be; Monterro 1 AB (30.0 percent of the outstanding shares in the Company), Syringa Capital AB (10.8 percent), Swedbank Robur Fonder AB (9.2 percent), Aktiebolag Grenspecialisten (7.5 percent), LMK Venture Partners AB (3.4 percent), RoosGruppen AB (3.4 percent) and C Worldwide Asset Management (2.8 percent)
- Trading in the Lime share on Nasdaq Stockholm commenced on December 6, 2018 and the shares are traded under the ticker “LIME”. Settlement will take place on December 10, 2018
Lime is one of the leading players in SaaS Customer Relationship Management (CRM) in the Nordic market. Lime develops, sells and implements user-friendly and flexible CRM systems.
Carnegie acted as Sole Global Co-ordinator and Joint Bookrunner in the IPO