Stabilisation notice, partial exercise of over-allotment option and end of the stabilisation period

ABG Sundal Collier AB (“ABGSC”), in its capacity as Sole Global Coordinator, notifies that stabilisation measures have been undertaken in Readly International AB's (publ) (“Readly” or the “Company”) shares traded on Nasdaq Stockholm. ABGSC further announces that the stabilisation period has now ended and no further stabilisation transactions will be effected. The over-allotment option is partially exercised by ABGSC, which means that 630,000 shares have been exercised and 1,200,508 shares, that ABGSC has lent from the Main Shareholder[1] in order to cover the over-allotment, will be re-delivered.

As announced in connection with the offering to acquire newly issued and existing shares in the Company and the listing of the Company’s shares on Nasdaq Stockholm (the Offering”), ABGSC may, acting as Sole Global Coordinator and stabilisation manager, carry out transactions aimed at supporting the market price of the shares at levels above those which might otherwise prevail in the market.

Stabilisation transactions have been undertaken on Nasdaq Stockholm in the over-the-counter market or otherwise, during the period from the date of commencement of trading in the shares on Nasdaq Stockholm 17 September until today, 16 October 2020. However, the Sole Global Coordinator has not been obliged to undertake any stabilisation measures. Under no circumstances has transactions been conducted at a price higher than the one set in the Offering, i.e. SEK 59. ABGSC, in its capacity as stabilisation manager, notifies in this press release that stabilisation measures have been undertaken in accordance with article 5(4) of the Market Abuse Regulation (EU) 596/2014 and the Commission Delegated Regulation (EU) 2016/1052 on Nasdaq Stockholm, as specified below. ABGSC has previously notified that stabilisation measures have been undertaken during the stabilisation period through press releases on 2 October and 15 October 2020.

The Main Shareholder of the Company have granted the Sole Global Coordinator an over-allotment option which may be utilised in whole or in part for 30 days from the date of pricing of the Offering to sell up to 1,830,508 shares corresponding to up to 15 percent of the total number of shares in the Offering, at a price corresponding to the price in the Offering, i.e. SEK 59 per share, to cover any over-allotment in connection with the Offering. ABGSC now notifies that the over-allotment option with respect to 630,000 shares have been exercised. Consequently, 1,200,508 shares in the Company, which ABGSC has lent from the Main Shareholder in order to cover the over-allotment, will be re-delivered.

The contact person at ABGSC is Erik Skog (tel: +46 8 566 29 471, e-mail: erik.skog@abgsc.se).

Stabilisation information:
Issuer: Readly International AB (publ)
Securities: Ordinary shares (ISIN: SE0014855292)
Offering size: 1,830,508 ordinary shares
Offer price: SEK 59
Ticker: READ
Stabilisation manager: ABG Sundal Collier AB
Stabilisation transactions conducted following the press release on 15 October 2020:
Date Quantity, shares Price (highest) Price (lowest) Price (volume weighted average) Curr-ency Trading venue
16 October 2020 20,000 56,90 56,50 56,67 SEK Nasdaq Stockholm

The stabilisation period regarding the Offering has now ended and no further stabilisation transactions will be effected. Specified below is a summary of the stabilisation transactions which have been effected during the stabilisation period in accordance with this press release and the press releases on 2 October and 15 October 2020. All transactions during the stabilisation period have been effected on Nasdaq Stockholm and no stabilisation transactions have been effected on other dates than those specified below.

Stabilisation transactions conducted during the stabilisation period:
Date Quantity, shares Price (highest) Price (lowest) Price (volume weighted average) Curr-ency Trading venue
23 September 2020 605,508 59.00 58.00 58.83 SEK Nasdaq Stockholm
24 September 2020 200,000 57.70 54.60 56.22 SEK Nasdaq Stockholm
25 September 2020 40,132 55.50 53.50 54.24 SEK Nasdaq Stockholm
28 September 2020 54,868 53.50 51.50 52.42 SEK Nasdaq Stockholm
6 October 2020 18,161 58.20 57.80 57.99 SEK Nasdaq Stockholm
7 October 2020 53,005 57.90 57.50 57.70 SEK Nasdaq Stockholm
8 October 2020 43,770 57.20 56.00 56.84 SEK Nasdaq Stockholm
9 October 2020 33,788 57.80 57.00 57.71 SEK Nasdaq Stockholm
12 October 2020 26,276 58.00 57.50 57.75 SEK Nasdaq Stockholm
13 October 2020 15,000 58.00 57.50 57.86 SEK Nasdaq Stockholm
14 October 2020 20,000 57.60 57.00 57.23 SEK Nasdaq Stockholm
15 October 2020 70,000 57.80 56.80 57.05 SEK Nasdaq Stockholm
16 October 2020 20,000 56.90 56.50 56.67 SEK Nasdaq Stockholm

For more information, please contact:

Contact for investors and analysts:

Annika Billberg, Head of Investor Relations Readly
+46 70 267 97 91, annika.billberg@readly.com

Contact for media:

Linnéa Aguero, Head of PR & Communications Readly
+46 72 503 32 31, linnea.aguero@readly.com

This information is information that Readly is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at 18:30 CEST on 16 October 2020.

About Readly

Founded in 2012, Readly is the European category leader for digital magazines[2]. Readly offers a digital subscription service for magazines with content from third party publishers. The product can be accessed online or via apps available on all main operating systems. Readly’s subscribers have unlimited access to quality content from approximately 800 publishers and editors for a fixed monthly fee. Since the service was launched, Readly has seen a large increase in the number of fully paying subscribers. Readly’s core markets Germany, the United Kingdom and Sweden together represented approximately 85 percent of the Company's net sales in the first half of 2020. Readly has subscribers in more than 50 countries and has agreements with publishers to offer local content in 11 countries. Moreover, Readly offers magazines in 17 languages.

The Company has shown significant growth in total revenue over the past years, reaching SEK 265 million in 2019. Total revenue has grown by a CAGR of 44 percent between 2017 and 2019 and all of Readly's core markets had positive organic growth during these years.

 

[1] Cleantech Europe II Luxembourg Sarl.

[2] Among identified “all-you-can-read” competitors in Europe, Readly is defined as the European category leader on the basis of: highest number of magazine titles, relationships with most major publishers in core markets, highest average monthly website visits between October and December 2019 (worldwide) and highest iOS-store rating, PwC Strategy& market study.






About Us

Readly is a digital subscription service that lets customers have unlimited access to nearly 5,000 national and international magazines - all in one app. Founded by Joel Wikell in Sweden in 2012, Readly is today one of the leading companies in digital magazine subscriptions in Europe with users in 50 markets. In collaboration with around 800 publishers worldwide, Readly is digitizing the magazine industry. Our purpose is to bring the magic of magazines into the future, enabling the discovery and survival of quality content. During 2019 Readly distributed more than 120,000 issues of magazines that have been read 83 million times. www.readly.com

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