ABGSC acted as joint lead manager and joint bookrunner in the NOK 650 million private placement in House of Control Group AS and subsequent listing on Merkur Market

House of Control Group AS (“House of Control” or the “Company”) announced on Wednesday 7 October 2020 the successful placement of 30,950,000 shares at a price of NOK 21.00 per share for a total transaction size of approx. NOK 650 million (the “Private Placement”). The Private Placement raised gross proceeds to the Company of approx. NOK 350 million and NOK 300 million in proceeds to certain existing selling shareholders. Based on the offer price, the post-money equity value of the Company is approx. NOK 1.2 billion.
The Private Placement attracted very strong interest from Norwegian, Nordic and international high-quality institutional investors and was multiple times oversubscribed. Five cornerstone investors subscribed for and were allocated shares for NOK 325 million: (i) Luxor Capital Group 150 million; (ii) Berenberg Bank 50 million; (iii) Consensus Asset Management 50 million; (iv) Handelsbanken Fonder 50 million; and (v) DNB Asset Management 25 million.
The net proceeds from the Primary Offering will primarily be used to pursue inorganic growth initiatives as well as for general corporate purposes.
House of Control has applied for, and will, subject to the necessary approvals from the Oslo Stock Exchange, list the shares of the Company on Merkur Market (the “Listing”). The first day of trading on Merkur Market is expected to be on or about 20 October 2020.