Efecte Plc Launches Initial Public Offering on First North and Plans to Apply for Admittance of Its Shares to Trading on the First North Marketplace
PRESS RELEASE 24 November 2017 at 10:30 Efecte Plc launches initial public offering on First North and plans to apply for admittance of its shares to trading on the First North marketplace NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, CANADA, NEW ZEALAND, AUSTRALIA, HONG KONG, SOUTH AFRICA, SINGAPORE OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. On 15 November 2017, Efecte Plc (“Efecte” or the “Company”) announced that it is planning a listing on the First North Finland marketplace (“First North”) operated by Nasdaq Helsinki Ltd. The Company’s board of directors has today made a preliminary decision concerning the issuance of a maximum of 1,035,000 new shares (“New Shares”) in the Company by offering New Shares for subscription in an institutional offering, a public offering and a personnel offering (“Share Issue”). In addition, some of the Company’s current shareholders are offering a maximum of 1,027,623 shares in the Company for purchase (“Sale Shares”, and together with the New Shares the “Offer Shares”) (together with the Share Issue the “IPO”). The subscription price in the institutional offering and the public offering is EUR 5.50 per Offer Share (“Subscription Price”). The subscription price in the personnel offering is 10% lower than the Subscription Price, i.e. EUR 4.95 per Offer Share. Preliminarily, a maximum of 2 062 623 shares in the Company are being offered in the Share Issue and in the Share Sale. Provided that the IPO is realised in full, the size of the IPO is thus approximately MEUR 11.3, consisting of the Share Issue of MEUR 5.7 and the Share Sale of MEUR 5.7.
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