ABG Sundal Collier acted as Joint Global Coordinator and Joint Bookrunner in the NOK 730 million private placement in ECIT AS and subsequent listing on Euronext Growth

ECIT AS (“ECIT” or “the Company”), announced on Wednesday 12 May 2021 the successful placement of around 91.3 million Class B shares at a price of NOK 8.00 per share (the “Offer Price”) for a total transaction size of NOK 730 million (the “Private Placement”). The Offer Price implies a enterprise value of around NOK 3.9 billion.
The Private Placement raised gross proceeds to the Company of NOK 400 million and NOK 280 million to selling shareholders. The Company intends to use the net proceeds from the issuance of the New Shares to finance the Company’s acquisition of approximately 15% of relevant minority interests in the Company’s subsidiaries, future acquisitions and for general corporate purposes.
The transaction attracted strong interest from investors. Paradigm Capital AG and Varner Kapital AS were cornerstone investors in the Private Placement, with total commitment of NOK 400 million.
The Company’s Class B shares are expected to start trading on Euronext Growth Oslo on or about 20 May 2021, under the ticker “ECIT”.