Systemair’s IPO subscribed nine times

The demand for shares has been strong. A total of 20,600,000 shares were offered for sale, including an over allotment option, and the offer was subscribed approximately nine times. The price has been set at SEK 78 per share, corresponding to a market capitalisation of approximately SEK 4.1 billion. The number of shareholders will amount to over 6,000.

Trading in Systemair shares begins today on the OMX Nordic Exchange under the ticker symbol SYSR. The largest shareholders are Gerald Engström through Färna Invest, which holds 38 percent and ebm-papst which holds 20 percent of the shares. Färna Invest has agreed to a lock-up period of 12 months, during which no additional shares will be sold. ebm-papst has agreed to a lock-up period of 6 months.

”The interest in the company has been strong, both in Sweden and abroad. We have met a large number of investors with deep knowledge about the industry and our business, in addition more than half of the employees in Sweden have subscribed for shares in the offering”, says Gerald Engström, CEO and founder of Systemair. “I am very pleased with the IPO which I believe will benefit Systemair’s growth in the future”.

Handelsbanken Capital Markets and Nordea are Joint Global Co-Ordinators and Joint Bookrunners.