Nordic Asia determines the allocation and offer price

2021-12-08Nordic Asia
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This news feature refers to the press release published on 2021-12-07 at 22.45, which can be read in its entirety on Nordic Asia's Investor Relations page under Press & News.

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Nordic Asia announces today the outcome of the offer regarding Nordic Asia's listing on the Nasdaq First North Growth Market. The offer price has been set at SEK 8.05 per B share, corresponding to the net asset value per ordinary share without discount or premium, as of December 6, 2021. The offer was fully subscribed and according to the board's allocation decision, the company will receive over 3,000 new shareholders. Estimated first day of trading on Nasdaq First North for Nordic Asia's B shares is December 16, 2021 under the ticker NAIG B.

The offer in summary and allocation

  • The final price per B share in the Offer has been set at SEK 8.05 per B share, corresponding to the net asset value per ordinary share without discount or premium, as of December 6, 2021.
  • The company's board has decided to issue a maximum of 24,844,721 new B shares, which corresponds to an increase in the share capital of a maximum of SEK 2,484,472.1. The newly issued shares add SEK 200 million to the Company before transaction costs.
  • 24,844,721 new B shares correspond to approximately 69 percent of the Company's total number of B shares after completion of the Offer.
  • Based on the net asset value per ordinary share as of December 6, 2021, the net asset value amounts to approximately SEK 302 million for all ordinary shares in the Company after the Offer, before transaction fees.
  • Kari Stadigh former CEO of Sampo Group, Stadium founders Ulf and Bo Eklöf via company, Knil AB with CEO Martin Julander, the founders of AQ Group Per-Olof Andersson and Claes Mellgren, Pong Invest, and others have committed to acquire B shares in The Offer amounts to a total of SEK 100 million, which corresponds to 50 percent of the Offer before the public subscription period. The offer price is the same for the Cornerstone investors as for other investors. Furthermore, Sven-Olof Johansson, via Compactor Fastigheter, has also subscribed for approximately SEK 4 million during the registration period.
  • The company's board members and management team have undertaken not to sell shares for a period of 365 days after the company's first day of trading.
  • The board has decided that the extension option does not need to be exercised in connection with the Offer.
  • The issue proceeds are primarily intended to be used to increase the Company's positions in existing portfolio companies and secondarily to invest in new companies.
  • Estimated first trading day on Nasdaq First North for Nordic Asia's B shares is December 16, 2021 under the short name (ticker) NAIG B.

Michael Thurow, Chairman of the Board

"We are very happy about the great reception that Nordic Asia has received in the market, which shows a continued great interest in the Chinese economy and the Chinese technology-driven companies that are often at the forefront of global development. We are grateful for the trust from original and new shareholders and are grateful to have reached our first interim goal through the IPO. I would also like to thank the team and our advisors for their solid work. Now we look forward to creating value for the owners through a successful implementation of the investment strategy.”

Yining Wang, CEO & Board Member

"It's really fun to see the good interest there is for our investment company and for our investment focus, where we see a growing need among Nordic investors to increase their portfolio allocation to our sector. Our goal for Nordic Asia is to penetrate this market through a local presence, and via our investment company to strategically own well-managed holding companies now that they are in a growth phase.

In connection with the IPO, we are entering a new exciting phase where we can offer more and more investors exposure to the growing consumer market in China. It's a goal we've had since the start and it's extremely fun to be able to reach this goal now.

We would like to extend a big thank you to our existing shareholders who have supported us on our journey and at the same time welcome our new shareholders on our journey ahead. We will do our utmost to execute our strategy and create a good long-term return for our shareholders over time.”

More information
For further information, please refer to the press release that was published on the Company's Investor Relations page.

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