ABGSC acted as joint global coordinator and joint bookrunner in the NOK 1,000 million private placement in Volue AS and subsequent listing on Merkur Market

Volue AS (“Volue” or “the Company”) announced on Wednesday 7 October 2020 the successful placement of 31,250,000 shares at a price of NOK 32.00 per share for a total transaction size of NOK 1,000 million (the “Private Placement”). The Private Placement raised gross proceeds to the Company of NOK 500 million and NOK 500 million in proceeds to the Company’s sole shareholder prior to the Private Placement, Arendals Fossekompani ASA. Based on the offer price, the post-money equity value of the Company is NOK 4.5 billion.
The Private Placement attracted very strong interest from Norwegian, Nordic and international high-quality institutional investors and was substantially oversubscribed. Nine cornerstone investors were allocated shares for NOK 500 million: (i) Eika Kapitalforvaltning 100 million; (ii) Luxor Capital Group 100 million; (iii) Andenæsgruppen 60 million; (iv) CentraGruppen 60 million; (v) Norron 50 million; (vi) Sissener AS 40 million; (vii) Danske Invest 30 million; (viii) Delphi Fondene 30 million; and (ix) KLP AksjeNorge 30 million.
The Company intends to use the net proceeds from the Primary Offering for potential acquisition opportunities which may materialise as well as for general corporate purposes.
Volue 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 first day of trading on Merkur Market is expected to be on or about 19 October 2020