29/03/2017

Krogerus advises Suomen Hoivatilat on its listing on the official list of Nasdaq Helsinki and subsequent share issue

Krogerus advised Suomen Hoivatilat on its listing on the official list of Nasdaq Helsinki and its subsequent private placement share issue to institutional investors.

Trading in the shares of Hoivatilat on the official list began in early March 2017, after which the company issued approximately 21.6 percent of additional equity in an accelerated bookbuilding directed to Finnish and international institutional investors. Following the publication of a prospectus, the new shares were admitted to trading on the official list of Nasdaq Helsinki on 29 March 2017.

The gross proceeds of the offering amounted to EUR 31.5 million. The new shares issued in the offering were priced approximately 3.4 percent lower than the last closing price of the company's share on Nasdaq Helsinki prior to the offering. 

Suomen Hoivatilat specialises in producing, developing, owning and leasing out nursing homes, day care centres and service blocks. Hoivatilat was founded in 2008, and the company has been working in cooperation with as many as approximately 50 Finnish municipalities and launched over 100 property projects around Finland. 

Krogerus previously represented Hoivatilat in its IPO on the Nasdaq First North marketplace, carried out as a fully marketed offering in March 2016.

The Krogerus team was led by partner Tom Fagernäs. He was assisted mainly by senior associate Paul Raade and associates Antti Luhtala, Taru Kovanen and Linda Hellstén.

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