Evli acted as lead manager in the EUR 21.2 million IPO of digitalization specialist Gofore Plc. The IPO was successfully completed and trading in the company’s shares on Nasdaq First North Helsinki began on 16 November 2017. The valuation of all of the company’s outstanding shares, based on the subscription price of the institutional and the public offering, was approximately EUR 82.2 million immediately following the IPO.
The successful IPO was over-subscribed by a factor of 3.2. The public offering was 3.0 times over-subscribed, the personnel offering 1.2 times over-subscribed and the institutional offering 3.6 times over-subscribed. The demand was especially high amongst institutional investors. The shares offered in the institutional offering, after the deduction of agreed minimum allocation to the cornerstone investors Ilmarinen Mutual Pension Insurance Company and Varma Mutual Pension Insurance Company, were over-subscribed by a factor of 7.0. The IPO was structured as a share issue, whereby the company received gross proceeds of approximately EUR 10.0 million, and a share sale, whereby some of the company’s shareholders sold shares valued at approximately EUR 11.2 million.
Gofore Plc is a fast growing company that offers a variety of IT-consulting services, from management consultation to service design and implementation as well as cloud services. The company’s net sales grew 76% during 1-9/2017, while EBITA -margin was 17,7%. The company expects net sales to be EUR 32,5-34,5 million and EBITA to be EUR 5,2-6,2 million in 2017.
For more information about the company, please visit www.gofore.com.
For more information please contact:
Olli Kangasniemi, Evli Bank Plc, Corporate Finance, tel. +358 40 579 6210