ABGSC acted as Joint Global Coordinator and Joint Bookrunner in the NOK 4,150m Private Placement and the NOK 1,500m Convertible Bond issuances in Aker Horizons in relation to its listing on Euronext Growth Oslo

Aker Horizons (or the “Company”) announced on 28 January 2021 the successful placement of 118,571,428 new shares at an offer price of NOK 35.00 per share for a total consideration size of approximately NOK 4,150 million (the “Private Placement”), in addition to the issuance of a NOK 1,500m Convertible Bond (the “Convertible Bond”). The Private Placement valued Aker Horizons at NOK 15.75bn on a pre-money basis (NOK 19.9 post-money) and makes it the largest transaction completed in conjunction with a listing on Euronext Growth Oslo to date.
The net proceeds from the Private Placement and Convertible Bond will be used to partially finance the acquisition of Mainstream Renewable Power (“Mainstream”), a leading global independent renewable developer & operator, as well as for general corporate purposes. The acquisition of Mainstream is expected to close during Q2’21.
The transaction, which attracted substantial demand from Norwegian, Nordic, and international high-quality institutional investors, was multiple times oversubscribed and included cornerstone investments from DNB AM, The Government Pension Fund Norway, Handelsbanken Fonder, Swedbank Robur, and NOK 500 million from Aker Capital.
The first day of trading on Euronext Growth is expected on or about Monday 1 February 2020 under the trading symbol “AKH”. In relation to the transaction, the Company intends to apply for a listing on Oslo Stock Exchange within 12 months after the completion of the Private Placement.
ABGSC acted as Joint Global Coordinator and Joint Bookrunner in connection with the Private Placement and the Convertible Bond issue.