Movinn is going Public: Raises 30.4 million in IPO on Nasdaq First North

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The PropTech company Movinn will start trading on Nasdaq First North Growth Market after raising DKK 30.4 million in its initial public offering
Company Announcement no. 2 - 2021 // 28-10-2021

During the subscription period that closed Wednesday October 27th, Movinn received orders for a total of 2,818,867 shares, the equivalent of DKK 30,443,763.6. All shares applied for will be issued to a total of 452 new shareholders. With the outcome of the offering thereby fulfilling the conditions in the conditional approval for admittance to trading what was obtained from Nasdaq on October 13th. Movinn will ring the bell on November 4th. The raised capital will be primarily be used to expand into new markets thereby adding scale to the Company’s existing operations in Denmark.

“We are incredibly happy with the interest and trust that both professional and private investors have shown us in this process. Now our attention will turn to delivering on our strategy and growth targets. We will maintain a focus on profitable growth, by balancing strong growth rates with fundamentals from existing operations. Expanding Movinn at home and proving the concept in new markets is a natural next step for Movinn and we are eager go get started with the work. We are also determined to deliver long term value to the shareholders, who has trusted us with this mission”, says Movinn CEO Patrick Blok.

Movinn is coined a PropTech-company and provides ‘Space-as-a-Service’ through move-in-ready serviced apartments in good locations in Copenhagen, Odense and Aarhus. The apartments are fully equipped and furnished with high quality design, making it a ‘plug-and-play’ solution where clients are offered a combination of flexibility, support and included services to make the stay as convenient as possible.

Movinn operates in a growing market where number of foreign specialists on assignment in Denmark have increased by 26 percent from 2017-2020 alone. In the ten largest cities of Europe 8 percent of accommodations are in serviced apartments and rising, so the market is gaining traction in and outside of Denmark. Serviced Living products is part of the infrastructure to the onboarding and people mobility within larger companies and the solution is regularly used among Danish C25 companies and insurance companies that need flexible housing solutions for their employees and clients. Movinn is currently a regular supplier to several large international and domestic corporations, insurance companies and government bodies.

"I have high expectations for Movinn's continued development and journey as a listed company. The Company's core products sit tightly in current trends, and I see great potential in expanding Movinn outside the country's borders. Movinn is a good example of a company that has managed to combine the best of ‘serviced living’ with great know-how from ‘facility service’. At the same time, Movinn has developed several tech-products that create a great client experience and supports future scalability of the Company”, says Chairman of the Board, Jacob Holm.

Summary of the offering

  • Movinn recieved orders for a total of 2,818,867 shares at the offering price of 10,80 DKK pr. share. 
  • This corresponds to gross proceeds of DKK 30,443,763.6. 
  • All shares applied for will be issued to a total of 452 new shareholders.

Quotes in Danish: 

”Vi er utrolig glade for den interesse og tillid, som både professionelle og private investorer har vist os. Nu skal vi i arbejdstøjet, så vi kan levere på vores vækstmål. Det betyder blandt andet, at vi sætter ekstra tryk på at ekspandere virksomheden - både herhjemme og især på nye markedet. Det er et naturligt næste skridt for Movinn, som vi har set frem til og vi glæder til at skabe langsigtet værdi til de aktionærer, som har betroet os med denne mission”, udtaler adm. direktør i Movinn, Patrick Blok.

”Jeg har store forventninger til Movinns børsrejse. Virksomhedens produkt taler ind i nutidens arbejdsmarked, og jeg ser et stort potentiale i at få løsningen udenfor landets grænser. Movinn er et godt eksempel på en virksomhed, der har formået at koble det bedste fra ’serviced living’ med stor knowhow fra ’facility service’. Samtidig har Movinn udviklet en række teknologier, som skaber gode kundeoplevelser og sikrer fremtidig skalerbarhed, ligesom de har samlet et hold med stærke kompetencer, der kan løfte den fremtidige vækst,” udtaler bestyrelsesformand i Movinn, Jacob Holm.

Additional information:

Registration of the capital increase with the Danish Business Authority is expected to take place on 2 November 2021. The first day of trading on Nasdaq First North Growth Market Denmark for the Company's shares is expected to be November 4, 2021. The shares will be traded under ticker “MOVINN” and permanent ISIN DK0061555539.

Settlement of the shares under the Offering takes place in a temporary ISIN DK0061555885 to the investor's securities depository against cash payment in Danish kroner. Shares issued in the temporary ISIN are registered in VP Securities A/S solely for the purpose of settlement of the offering and have not been admitted to trading. The temporary ISIN will be merged into the permanent ISIN on November 5, 2021 in VP Securities A/S.

Movinn A/S

Patrick Blok, CEO

Tel. +45 28 94 08 79


Dronningens Tværgade 9, b, 1302 København K

Certified Advisor

Västra Hamnen Corporate Finance AB

Tel. +46 40 200 250


About Movinn

Founded in October 2014, Movinn A/S has grown to become one of Denmark's leading providers of fully serviced aparments, delivering space-as-a-service to mainly large domestic and international corporations and organizations. To stay at the forefront of trends in the real estate and serviced living industry - and to diversify activities - the company has created a house of brands that cover both traditional and emerging client segments.
Inhouse, the company has created a highly intergrated value chain and comprehensive tech-products (several software platforms & IoT hardware) to help provide the best possible service and quality to the company's clients and to help scale profitable growth. Movinn has a strong presence in Denmark, covering Aarhus, Odense and Copenhagen (the latter being the largest and primary market), and the company is planning to expand its operations into new European destinations.

Movinn A/S has received a conditional approval for admission to trading of its shares on Nasdaq First North Growth Market Denmark. The first day of trading is November 4 2021 under the ticker “MOVINN”.