GomSpace Raises SEK 100 Million in Initial Public Offering
Nanosatellite provider GomSpace announced the completion of its initial public offering, raising SEK 100 million before costs. Approximately 72 percent of the subscribed shares were allocated to the general public and professional investors.
Nanosatellite provider GomSpace Group has announced the outcome of its initial public offering, successfully raising SEK 100 million before transaction costs. The offering, which aimed to broaden the shareholder base and fund business expansion, saw 8 million new shares subscribed out of a maximum of 10 million at a price of SEK 12.50 per share.
Of the shares subscribed, approximately 72 percent were allotted to the general public in Sweden, Denmark, and Norway, as well as to professional investors. The remaining 28 percent were allocated to the guarantee consortium. The subscription period concluded on June 1, 2016.
"We are very proud that we can announce a subscription of SEK 100 million," said CEO Niels Buus. He highlighted the strong interest from Swedish investors despite intense IPO activity and expressed positive surprise regarding the level of backing from Danish investors.
The first day of trading for GomSpace's shares on Nasdaq First North Stockholm (Premier Segment) is planned for June 16, 2016. Following the registration of the offering, the company's share capital will increase with 8 million shares, bringing the total number of shares to over 21.9 million. No single new shareholder is expected to hold 5 percent or more of the company.