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  • AVTECH Sweden’s successful new issue of shares results in oversubscription and the company is preparing a listing on NASDAQ OMX First North.
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AVTECH Sweden’s successful new issue of shares results in oversubscription and the company is preparing a listing on NASDAQ OMX First North.

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During November 2011, AVTECH Sweden AB made an initial public offering through a new issue of shares. In this new public offering, 2 500 000 B-shares were subscribed, which, in turn, generated approximately 15 000 000 SEK, prior to costs. The company had an over-allotment option worth 5 000 000 SEK, which is the equivalent of 833 000 B-shares. The proceeds from the over-allotment option amounted to approximately 1 900 000 SEK. The amount of the company’s new issue totaled 16 900 000 SEK. A company objective is to register the first part of the new issue with Bolagsverket around 20th January 2012. The shares will then effectively be allocated to the stock accounts or depots of the shareholders as soon as the share capital raise have been registered, which is estimated to take place in late January. AVTECH has applied for a listing on NASDAQ OMX First North and the scheduled time for this listing is February 2012. The reason why the stock exchange listing has been postponed to February is entirely related to the success of the new issue, which resulted in the oversubscription. Following these new issues, the number of A-shares will amount to 10 031 428 and the number of B-shares 2 778 333.

Thenberg Fondkommission has acted as AVTECH’s financial advisor throughout the new issue.

For more information, please contact:

Charlotte Johnston Lönnberg
AVTECH Sweden AB
Direct:+46 (0) 8 544 104 82
SBD: +46 (0) 8 544 104 80
E-mail: charlotte.johnston-lonnberg@avtech.aero

About AVTECH:

AVTECH develops products and services for digital Air Traffic Management (ATM). Its customers include the global aviation industry; e.g. airlines, airports, aviation authorities, technology companies and airline manufacturers. By using AVTECH’s products and services, each individual flight as well as the entire airline operation can be optimized in terms of cost, noise and emission, efficiency, punctuality and safety.

Web: www.avtech.aero

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