ABGSC acted as Joint Bookrunner in the NOK 452 million private placement in Play Magnus AS and as Merkur Advisor in the subsequent listing on Merkur Market

Play Magnus AS (“Play Magnus” or “the Company”) announced on Monday 28 September 2020 the successful placement of 21.5 million shares at a price of NOK 21.00 per share, corresponding to a post-money equity value of approximately NOK 1.1 billion. The Private Placement raised gross proceeds to the Company of NOK 300 million (the “Primary Offering”) and NOK 152 million to certain existing shareholders (the “Secondary Offering”, and together with Primary Offering, the “Private Placement”).
The Private Placement attracted very strong interest from Norwegian, Nordic and international high-quality institutional investors and was significantly oversubscribed. Four cornerstone investors were allocated shares for NOK 205 million: (i) Luxor Capital Group: NOK 120 million; (ii) DNB Asset Management: NOK 30 million; (iii) TIN Fonder: NOK 30 million; and (iv) TD Veen AS: NOK 25 million. In addition, Investinor AS was allocated shares representing 9% of the Primary Offering, equivalent to NOK 27 million.
The net proceeds from the Primary Offering will primarily be used for investing in new and existing products, building on the 2020 Tour’s success with the upcoming Champions Chess Tour, potential bolt-on acquisitions and general corporate purposes.
Play Magnus 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 8 October 2020.