Evli Bank Plc acted as Lead Manager in Qt Group Plc’s rights issue amounting to EUR 15.3 million. The share issue is related to the financing of the company’s updated strategy for the years 2017-2021, which was announced 16 February 2017. In accordance with the updated strategy, the company announced its new long-term financial goals to achieve in 2021 an annual turnover of EUR 100 million with more than 15 percent operating profit margin.
The offering was oversubscribed by 115.4 per cent. Pre-agreed subscription commitments received from Qt Group’s key shareholders covered 57.8 per cent of the total amount of the offering. The transaction was closed on April 12, 2017.
Qt Group Plc is responsible for Qt development, product making and licensing under commercial and open source licenses. The Qt offering includes a development environment that enables the reuse of software code across numerous different operating systems, platforms and screen types, ranging from desktops and embedded systems to wearables and mobile devices. Qt is used by approximately 1 million developers worldwide and is the leading independent technology behind millions of devices and applications. Qt is the platform of choice for in-vehicle systems, industrial automation devices and other business critical applications manufacturers, and is used by leading global players in over 70 industries. The Qt Company operates in China, Finland, Germany, Japan, Korea, Norway, Russia and USA with about 200 employees worldwide. The Qt Group is headquartered in Espoo, Finland and is listed on Nasdaq Helsinki Stock Exchange. The company’s net sales in 2016 was EUR 32 million. To learn more visit http://qt.io
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