Initial Public Offering

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Initial Public Offering

On 20 October 2021, Synsam published its prospectus and announced price range for its initial public offering and listing on Nasdaq Stockholm.

Documentation

Prospectus
Press release Prospectus
Press release ITF

Preliminary timetable of key dates

  • Application period for the general public in Sweden, Norway, Denmark and Finland: 21–28 October 2021
  • Application period for institutional investors in Sweden and abroad: 21–28 October 2021
  • Announcement of the final Offering price: 29 October 2021
  • First day of trading in Synsam’s shares: 29 October 2021
  • Settlement date: 2 November 2021

The Offering in Brief

  • The final price in the Offering is expected to be set within a range of SEK 46–56 per share (the “Price Range”), corresponding to a total market value of the Company of SEK 6,900–8,400 million after completion of the Offering. The final offering price is expected to be published in a press release prior to commencement of trading on Nasdaq Stockholm on 29 October 2021.
  • The Offering comprises up to 45,000,000 existing shares, corresponding to 30.0 per cent of the total number of shares in the Company after the completion of the Offering, offered by Theia Holdings S.à r.l. (the “Principal Shareholder”), a company indirectly majority owned by CVC European Equity Fund V (“CVC Fund V”).
  • The Principal Shareholder has reserved the right to increase the number of shares offered by the Principal Shareholder by up to 7,500,000 existing shares (the “Upsize Option”), corresponding to approximately 16.7 per cent of the total number of shares in the Offering. Provided that the Upsize Option is exercised in full, the Offering will comprise up to 52,500,000 shares, which corresponds to 35.0 per cent of the total number shares in the Company after the completion of the Offering.
  • In order to cover any over-allotments in relation to the Offering, the Principal Shareholder has also granted an option to the Managers to sell up to an additional 7,875,000 shares, corresponding to maximum 15 per cent of the total number of shares in the Offering assuming that the Upsize Option is exercised in full (the “Over-Allotment Option”). Provided that the Upsize Option and the Over-Allotment Option are exercised in full, the Offering will comprise up to 60,375,000 shares, which corresponds to approximately 40.3 per cent of the total number shares in the Company after the completion of the Offering.
  • The total value of the Offering, based on the Price Range, amounts to up to SEK 2,070–2,520 million, and assuming that the Upsize Option and the Over-Allotment Option are exercised in full, the value of the Offering will amount to approximately SEK 2,777–3,381 million.
  • The Fourth Swedish National Pension Fund (Sw. Fjärde AP-fonden), Handelsbanken Fonder Aktiebolag and C WorldWide Asset Management Fondsmaeglerselskab A/S Danmark Filial i Sverige have, subject to certain customary conditions, committed to acquire shares in the Offering corresponding to an aggregate value of SEK 950 million. The undertakings represent, in aggregate, approximately 12.4 per cent of the outstanding shares in the Company upon completion of the Offering and approximately 30.9 per cent of the shares in the Offering assuming that the Upsize Option and the Over-Allotment Option are exercised in full (based on the midpoint of the Price Range).
  • The shares will be offered to the general public in Sweden, Denmark, Norway and Finland and to institutional investors in Sweden and abroad in accordance with applicable laws and exemptions. The shares will trade under the trading symbol “SYNSAM”.
  • A prospectus in Swedish has been approved by the Swedish Financial Supervisory Authority (the “SFSA“). The prospectus has also been translated into English.

Contact

Per Hedblom,
Chief Financial Officer, Synsam Group
per.hedblom@synsam.com