This will be the subscription course in the new introduction of Readly

The offer is aimed at institutional investors in Sweden and abroad, as well as the general public in Sweden. In connection with the offer, the company has prepared a prospectus which has been approved today by the Swedish Financial Supervisory Authority and published on the company’s website.

The subscription price is SEK 59 per share, corresponding to a market capitalization of SEK 2.17 billion.
including new shares issued in connection with the offer.

The offering comprises a maximum of 7.63 million newly issued ordinary shares and a maximum of 4.58 million existing ordinary shares. Upon full subscription, the company will receive SEK 450 million before issue costs and the sale of the existing shares corresponds to SEK 270 million. Transaction costs are estimated at SEK 22 million.

There is also the possibility of an over-allotment of 1.83 million additional existing shares, corresponding to SEK 108 million. The offer corresponds to SEK 828 million, as the offer is fully subscribed and the over-allotment option is exercised.

Eight anchor investors were recruited to subscribe for SEK 390 million shares in the offering. The respective commitments of the eight investors have been distributed as follows:

Existing shareholders:
* Swedbank Robur Fonder SEK 70 million
* Third Fund AP 30 million SEK
* Consensus Small Company Fund 30 million SEK

New investors
* Tin Fonder SEK 70 million
* Handelsbanken Fonder SEK 70 million
* C Worldwide Asset Management SEK 70 million
* Skandia Fonder SEK 33 million
* Skandia Liv 17 million SEK

The application period begins on September 8 and runs until September 15 for the public in Sweden and until September 16 for institutional investors. The stock will begin trading on Nasdaq Stockholm on September 17 under the short name READ.

Readly offers customers a digital subscription service for magazines with content from third-party publishers. The company was founded in 2012. Subscribers gain access to content from 800 publishers and publishing offices for a fixed monthly fee. Readly has subscribers in more than 50 countries, as well as agreements with publishers to offer local content in eleven of these countries. In addition, Readly offers magazines in 17 languages.

Readly had revenue of SEK 265 million in 2019. Revenue increased 44 percent on average during the period 2017 to 2019.