Evli Bank Plc acted as Lead Manager in Etteplan Plc’s rights issue amounting to EUR 14.4 million. The net proceeds from the offering will be used for repayment of the interim financing raised for the acquisition of IoT and embedded systems businesses Espotel and Soikea Solutions earlier in 2016, and for strengthening the company’s capital structure. The offering was oversubscribed by 108.4 per cent. Pre-agreed subscription commitments received from Etteplan’s key shareholders covered 71.5 per cent of the total amount of the offering. The transaction was closed 8 June 2016.
Etteplan is a specialist in industrial equipment engineering, embedded systems and IoT and technical documentation solutions and services. In 2015, Etteplan had turnover of EUR 141,1 million. The company currently has almost 2,500 experts in Finland, Sweden, the Netherlands, China, Germany, Poland and the United States. Etteplan's shares are listed on Nasdaq Helsinki Ltd.
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