Evli’s initial public offering has been oversubscribed multiple times and the subscription period has been discontinued on November 23, 2015 at 4.00 PM

23.11.2015

EVLI BANK PLC STOCK EXCHANGE RELEASE NOVEMBER 23, 2015, AT 4.00 PM

NOT FOR PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN THE USA, CANADA, NEW ZEALAND, AUSTRALIA, JAPAN, HONG KONG, SINGAPORE OR SOUTH AFRICA, OR ANY OTHER COUNTRY WHERE THE DISTRIBUTION OR PUBLISHING WOULD BE UNLAWFUL.

Evli’s initial public offering has been oversubscribed multiple times and the subscription period has been discontinued on November 23, 2015 at 4.00 PM

Evli Bank Plc’s ("Evli" or "Company") initial public offering (“IPO”) has been oversubscribed multiple times, and the Company’s Board of Directors has, therefore, decided to discontinue the subscription period of both the institutional offering and the public offering today on November 23, 2015 at 4.00 PM, in accordance with the terms and conditions of the IPO.

The subscription period of both the institutional offering and the public offering for the Company’s new series B shares offered in the IPO (“Offered Shares”) begun on November 16, 2015. The demand for the Offered Shares was very strong both among the institutional investors and the investors participating in the public offering.

Preliminarily a maximum of 1,800,000 Offered Shares will be offered in the institutional offering for institutional investors in Finland and certain other countries. Preliminarily a maximum of 300,000 Offered Shares will be offered in the public offering for subscription by private individuals and institutions in Finland. The Company will strive to approve subscription commitments given in the IPO fully up to 100 Offered Shares per investor. For the portion exceeding this, the Company will, in accordance with the terms and conditions of the IPO, strive to distribute Offered Shares in the mutual ratio of the amounts of the unfulfilled subscription commitments. However, the Company may take into account the status of the party giving the subscription commitment as a client of the Company and allocate more Offered Shares for such investors than to other investors participating in the IPO.

The Company’s Board of Directors will resolve on or about November 25, 2015 on the division of the Offered Shares between the institutional offering and the public offering and on the approval of subscription commitments and offers given in the IPO. The results of the IPO are expected to be published on or about November 25, 2015. The discontinuation of the subscription period does not otherwise affect the schedule of the IPO. It is estimated that the Offered Shares distributed in the IPO will be entered in the investors’ book-entry accounts on December 1, 2015. Trading is expected to commence on the official list of the NASDAQ OMX Helsinki Ltd on or about December 2, 2015.

The lead manager of the IPO is Alexander Corporate Finance Oy and the Company’s legal advisor is Borenius Attorneys Ltd.

 

For additional information, please contact:
Maunu Lehtimäki, CEO, Evli Bank Plc, tel. +358 9 4766 9304 or +358 50 553 3000
Henrik Andersin, Chairman of the Board, Evli Bank Plc, tel. +358 9 4766 9200 or +358 400 406 391

 

Evli in brief

Evli is a private bank that specializes in investment and helps private persons and institutions increase their wealth. The Company offers asset management services, various services related to the capital markets, such as brokerage of equity and other investment products, market making and investment research, and Corporate Finance services.

 

 

DISCLAIMER

The information contained in this release is not intended for publication or distribution, directly or indirectly, in the USA, Canada, New Zealand, Australia, Japan, Hong Kong, Singapore or South Africa. This written material does not constitute an offer for the sale of securities in the USA, nor may the securities be offered or sold in the USA unless they have been registered according to the United States Securities Act of 1933 (as amended) and the rules and regulations issued pursuant to it, or unless there is an exemption to the obligation to register. The Company does not intend to register any portion of the IPO of securities in the USA or conduct an offer of securities to the public in the USA.

Specific judicial or legislative restrictions have been placed on the issue, use and/or sale of securities in certain countries. The Company and Alexander Corporate Finance Oy are not liable if such restrictions are violated.

This release shall not be interpreted as an offer to sell or an invitation to make an offer to purchase the securities mentioned herein, nor will securities be sold in areas in which the offering, acquisition or sale of the securities in question would be unlawful before their registry or exemption regarding the obligation to register, or the gaining of other approval according to the securities legislation for the areas in question. Investors should not accept an offer regarding securities or acquire the securities that this document refers to unless they do so based on the information contained in the applicable prospectus published or distributed by the Company.

The Company has not authorized an offer of securities to the public in any member state of the European Economic Area other than Finland. With the exception of Finland, no measures have been or will be made to conduct an offer of securities to the public in any member state of the European Economic Area that has implemented the Prospectus Directive (each “Relevant Member State”) in such a way that would require the publication of a prospectus in the Relevant Member State. As a consequence, securities can only be offered in the Relevant Member States to (a) legal entities considered to be a qualified investor as defined in the Prospectus Directive or (b) any other situation according to Article 3(2) of the Prospectus Directive. In this paragraph, the expression “offer of securities to the public” means a communication to persons in any form and by any means, presenting sufficient information on the terms and conditions of the offer and the securities to be offered, so as to enable an investor to decide to use, purchase or subscribe to these securities, as the expression may vary as a consequence of the implementation measures carried out in the member states. The expression “Prospectus Directive” refers to Directive 2003/71/EC (with amendments including the 2010 Amending Directive, to the extent that it has been implemented in the Relevant Member State), and it contains all the relevant implementation measures in the Relevant Member State, and the expression “2010 Amendment Directive” means Directive 2010/73/EU.

The information presented here is only directed at (i) persons outside the United Kingdom or (ii) persons with professional experience in matters relating to investments as referred to in Article 19(5) of the United Kingdom’s Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (“the Order”) and (iii) high net worth entities falling within Article 49(2) of the Order, or other persons to whom the document may lawfully be communicated (all the above-mentioned persons together being referred to as “Relevant Persons”). The investment activities related to this release are only available to the Relevant Persons and are only undertaken with the Relevant Persons. Any person who is not a Relevant Person should not act on the basis of this document or rely on its contents.