trending Market Intelligence /marketintelligence/en/news-insights/trending/lkoynwrww3i2vrh1acnbea2 content esgSubNav
In This List

Kojamo sets preliminary IPO price range

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Kojamo sets preliminary IPO price range

Helsinki-based real estate investment company Kojamo Oyj set the preliminary price range for its planned IPO at between €8.50 per share and €10 per share, to raise roughly €150 million of gross proceeds.

Based on the midpoint of the price range, the offering's value comes to roughly 748 million assuming the sellers will sell the maximum number of offered shares and the overallotment option is exercised in full.

The offering has a preliminary size of up to 67,897,176 shares, excluding a maximum of 10,396,510 overallotment shares to be offered to institutional investors, up to 4 million shares to be offered for subscription to the public, and a personal offering to employees and management of as many as 60,000 new shares. The shares are equivalent to roughly 32.9% of Kojamo's shares.

Kojamo is expected to have a market capitalization of between €2.10 billion and €2.45 billion based on the price range.

Ilmarinen Mutual Pension Insurance Co., Varma Mutual Pension Insurance Co., the Finnish Industrial Union, Trade Union for the Public and Welfare Sectors, Finnish Construction Trade Union, Service Union United PAM, Trade Union PRO and Trade Union of Education in Finland and certain other existing shareholders of Kojamo will offer for purchase initially a minimum of 39,202,312 existing shares and a maximum of 54,304,117 shares in the company, according to a release.

The subscription date for the institutional offering will commence June 4 and end June 14, while the public and personal offerings will commence June 4 and end June 12.

The shares are expected to trade under the KOJAMO ticker starting on or about June 15 on the pre-list of Nasdaq Helsinki and on or about June 19 on the official list of the bourse.

Goldman Sachs International, J.P. Morgan Securities PLC and the Finnish branch of Nordea Bank AB (publ) are appointed joint global coordinators and joint book runners for the offering. Goldman Sachs and J.P. Morgan will act as joint global coordinators in the institutional offering only.

OP Corporate Bank PLC will serve as joint book runner for the offering, and as manager along with the joint global coordinators.

Roschier Attorneys Ltd. and Freshfields Bruckhaus Deringer LLP serve as the legal advisers to Kojamo on the listing, while White & Case LLP is the legal adviser to the managers.