Pandox AB completed an issuance of 10 million class B shares, priced at 148 Swedish kronor apiece, to Swedish and international institutional investors.
The company stands to garner proceeds worth 1.48 billion kronor, before transaction costs, from the capital raise that will bankroll acquisitions.
Eiendomsspar Sverige AB, Christian Sundt AB, Alecta, AMF, Handelsbanken Fonder and Swedbank Robur Fonder were among the investors who subscribed to the shares at the price determined through an accelerated bookbuilding process.
Following the issuance, Pandox will have 75 million class A shares and 92,499,999 class B shares in issue. The issuance is subject to an approximately 5.97% dilution effect.
ABG Sundal Collier, DNB Markets, Handelsbanken Capital Markets and Skandinaviska Enskilda Banken served as joint book runners for the issuance, while Advokatfirman Vinge acted as legal adviser.
As of Dec. 14, US$1 was equivalent to 8.44 Swedish kronor.