Initial public offering of LeoVegas AB on Nasdaq First North Premier

The Offering in brief

 The Offering is made to the general public in Sweden as well as to institutional investors in Sweden and in other countries, including qualified institutional investors in USA.

  • The Offering comprises between 25,985,848 and 26,711,780 shares in LeoVegas, corresponding to 26 – 27 per cent of the total number of shares in the Company. Of these shares, between 5,843,750 and 6,678,571 are newly issued shares and between 20,033,209 and 20,142,098 are shares offered by the Selling Shareholders (Aggregate Media Fund V KB, Gustaf Hagman, Robin Ramm-Ericson, together the “Main Shareholders” jointly with an additional 54 shareholders who are offering shares within the Offering).
  • Aggregate Media and certain other Selling Shareholders have reserved the right to, in the event of sufficient demand, increase the Offering with a maximum of 2,462,000 additional existing shares (the ”Upsizing shares”), corresponding to maximum 2.5 per cent of the total number of shares in the Company after completion of the Offering and based on a subscription price at the top of the price range.
  • The Main Shareholders and SEB Foundations have provided Carnegie Investment Bank AB (publ) (“Carnegie”) and Skandinaviska Enskilda Banken AB (publ) (”SEB”) with an overallotment option of up to 4,006,767 additional shares (the ”Overallotment Option”), corresponding to maximum 15 per cent in the shares in the Offering excluding the Upsizing shares. The Overallotment Option may only be exercised in case of oversubscriptions in the Offering.
  • Provided that the Offering is completed at a subscription price corresponding to the midpoint of the price range, and provided that the Selling Shareholders exercise their right to extend the Offering and the Overallotment Option is fully exercised, the Offering will in total comprise of 32,735,309 shares, corresponding to approximately 33 per cent of the total number of shares in the Company.
  • The offering price will be established in the range of SEK 28 – 32 per share. The final offering price is expected to be published on or around March 17, 2016.
  • The total value of the Offering (including the Upsizing shares) based on the price interval amounts to approximately SEK 817 – 910 million and approximately SEK 929 – 1,035 million if the Overallotment Option is fully exercised.
  • Based on the price range in the Offering, the equity value of all shares in LeoVegas (including newly issued shares) is expected to amount to SEK 2,815 – 3,190 million.
  • The Cornerstone Investors (Catella Fondförvaltning AB, Handelsbanken Fonder AB, Swedbank Robur Fonder AB, Carnegie Asset Management, Keel Capital, Fonden Alcur, and AMF Fonder AB) have undertaken to acquire shares in the Offering for a total amount of SEK 400 million, equivalent to a total of 38.6 – 43.1 per cent of shares in the Offering.
  • Applications for acquisition of shares within the terms of the Offering to the general public in Sweden will commence on March 7, 2016, and are expected to end on March 15, 2016.
  • The book-building procedure for institutional investors will commence on March 7, 2016, and is expected to end on March 16, 2016.
  • Estimated first day of trading on Nasdaq First North Premier is March 17, 2016, and the shares will be traded under the ticker ”LEO”.
  • Estimated settlement date in relation to the Offering is March 21, 2016.

Carnegie acted as Joint Global Co-ordinators and Joint Bookrunner in the transaction.