Enfo Oyj’s rights issue was oversubscribed

Enfo Oyj’s rights issue of approximately EUR 4.2 million, with pre-emptive subscription right for existing shareholders, was oversubscribed. The proceeds from the rights issue are used to finance the acquisition of the SAP ERP business which Enfo acquired from Solteq Oyj in the end of 2019.

“We are happy for the confidence in us. Unfortunately, not all interested were able to subscribe the wished amount,” comments Enfo’s CEO Seppo Kuula.

The subscription period commenced on January 13, 2020 and expired on January 24, 2020. On January 30, 2020, Enfo’s Board approved in full all subscriptions made pursuant to subscription rights, as well resolved on the allocation of secondary subscription commitments in proportion of the ownership of shares by the respective parties. Due to the oversubscription of shares, it was necessary to cut the secondary subscriptions.

The new shares (82,233) will entitle their holders to full shareholders’ rights when the shares have been registered in the Trade Register and in the company’s shareholder register, on or about February 10, 2020.

For more information, please contact:

Seppo Kuula, CEO, Enfo, +358 40 3700032

Enfo

Data-driven business transformation

Enfo is a Nordic IT service company enabling its customers’ data-driven business transformation. With our niche expertise in hybrid platforms, information management and applications, we bring together relevant data for more intelligent operations. We both build and run digital solutions – supporting our customers with genuine care in mastering the complexity. We are 900 experts working for a more intelligent world, with technology empowering people, businesses and societies.

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