ABG Sundal Collier acted as Sole Global Coordinator in the directed share issue of SEK 163 million in Nordic Iron Ore

On Wednesday 19 June 2024, Nordic Iron Ore announced the successful completion of a directed share issue of approximately SEK 163 million. The subscription price was set at SEK 5.3 and was determined through an accelerated book building procedure conducted by ABG Sundal Collier as Sole Global Coordinator.
A number of new international and Nordic reputable investors subscribed for shares in the directed share issue, including Cargill and Svelland Capital, and a number of existing shareholders. Cargill will become the largest shareholder in Nordic Iron Ore following the directed share issue with a shareholding of approximately 17 per cent. Cargill has entered into a SEK 35 billion offtake agreement with Nordic Iron Ore including an agreement to buy 25 Mt high-grade iron ore concentrate from the Blötberget mine.
“We are very grateful for the support and trust shown by our new and existing shareholders through this investment. I am very pleased with the high quality of new investors including global commodities behemoth Cargill and that a commodities specialist fund like Svelland Capital is a new shareholder with 9.9 per cent. Svelland Capital won the “Best Macro Strategy Hedge Fund” at the Hedgeweek European Awards 2023. Their confidence means a great deal to us as we bring in additional capital and expertise from investors who recognize Nordic Iron Ore’s potential and can significantly contribute to our future growth. This investment allows us to advance our preparatory activities for the planned mining operations in Blötberget,” says Ronne Hamerslag, CEO of Nordic Iron Ore.
Nordic Iron Ore intends to use the net proceeds from the directed share issue for preparatory activities for the planned mining operations in Blötberget.