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The Airthings technology company manufactures sensors to measure air quality and has seen strong growth internationally in recent years. The listing has been planned for next year since last summer, but the plans have recently been accelerated.
It is now clear that trading on Merkur Market will open around October 30.
In connection with the listing, Airthings will raise around NOK 870 million through a private placement. Gross revenue will reach around NOK 500 million.
The subscription price is set at NOK 13.50 and the company is priced at NOK 1.791 million before the money is collected.
Up to 800 million
This summer, institutional investors Storebrand and KLP joined the property. At that time, the price of the company was around 1 billion NOK. This means that the value of the company has increased by around NOK 800 million in just a few months. The company is listed on Merkur this year, but has stated that they want to be on the main list as soon as possible.
Geir Førre is the largest owner of the technology company and an active chairman of the board. Airthings will be his fourth multi-million dollar company, either as an entrepreneur or as a primary owner. In early October, he told DN how he didn’t particularly fire up the company.
– In fact, I had decided to leave the company, but Øyvind convinced me that we should. I’m happy about that today, said Førre, referring to Øyvind Birkeland, who is CEO today.
Aksel Lund Svindal is an investor and a member of the company’s board. (Photo: Gunnar lier)
Sell shares for 100 million.
Shareholders with more than one percent of the company are cut by 25 percent in relation to the problem to guarantee the size of the transaction, the company claims. The exception is KLP, which participates in the issue.
Chairman of the board of directors Førre has shares worth 420 million at today’s valuation, and plans to collect more than 100 million.
Former mountaineer and investor Aksel Lund Svindal is also on the company’s board of directors and owns 18 million shares through his A-Management. It sells according to the plan for 4.5 million crowns.
Six of the so-called key investors have already committed to participate in the issue. Storebrand and KLP enter with new 70 and 30 million, while DNB Asset Management (120 million), Eika Kapitalforvaltning (70 million), Handelsbanken Fonder (60 million) and CentraGruppen (50 million).
ABG Sundal Collier, Carnegie, DNB Markets and Arctic Securities are advisers in relation to the issue. (Terms)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases via a link, which leads directly to our pages. Copying or other use of all or part of the content may only be done with written permission or as permitted by law. For more terms, see here.
