trending Market Intelligence /marketintelligence/en/news-insights/trending/hjh8aeasdgqiavrptdbkia2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Finland's Kojamo targets €150M from Helsinki IPO

Blog

Highlighting the Top Regional Aftermarket Research Brokers by Sector Coverage

Blog

Corporate Credit Risk Trends in Developing Markets: A Loss Given Default (LGD) Perspective

Blog

Real Estate News & Analysis: May Edition

Blog

Corporate Credit Risk Trends in Developing Markets: A Probability of Default Perspective


Finland's Kojamo targets €150M from Helsinki IPO

Kojamo Oyj is aiming to raise roughly €150 million in gross proceeds from an IPO and plans to list its shares on the official list of Nasdaq Helsinki Ltd.

Kojamo is Finland's largest private residential real estate company on the basis of the €4.9 billion fair value of its investments properties, as at March 31, according to a release.

The IPO entails a primary offering of new shares by the company and a secondary offering of existing shares by Kojamo's eight largest and certain other shareholders. It is expected to wrap up in the second quarter, subject to market conditions.

The company intends to use the proceeds from the shares issuance for residential properties acquisitions, development projects and other growth investments, as well as for the repayment of debt and general corporate purposes.

CEO Jani Nieminen said the IPO will help the company attain its target of owning 38,000 apartments by 2021.

The company and existing shareholders will be subject to customary lock-up arrangements and the eight largest stake holders will remain "significant" shareholders after the transaction.

Additionally, the company said board directors Ann Selin, Olli Luukkainen and Jorma Malinen intend to resign, subject to the commencement of trading of the company's shares in Nasdaq Helsinki. Kojama's nomination board has proposed to elect Anne Leskelä and Minna Metsälä for the period starting from the 2019 annual general meeting.

OP Corporate Bank PLC is serving as joint book runner alongside Goldman Sachs International, J.P. Morgan Securities PLC and the Finnish branch of Nordea Bank AB (publ), who are also acting as joint global coordinators for the offering.

Roschier Attorneys Ltd. and Freshfields Bruckhaus Deringer LLP are serving as legal advisers to the company.