IPO of Nets

Nets, the Copenhagen based digital payment provider, today settled the sale and purchase of offer shares in its successful IPO on Nasdaq Copenhagen (ISIN DK0060745370).

The IPO, which traded first on Nasdaq on September 23, brought 42,000 new investors and closed ahead of time. A little more than 10 per cent were allocated to retail investors in Denmark and approximately 90 per cent to Danish and international institutional investors. The free float, representing the proportion of the share capital held by new investors, will be between 52 per cent and 60 per cent depending upon exercise of an over-allotment option.

At the offer price, Nets started trading with a market capitalization of DKK 30 billion, and the IPO was one of the largest in Europe so far this year.

Among the sellers in the offering were "eInvestments af 23. marts 2014" owned by Nets Management and key employees reducing their combined shareholding from 7.8 per cent to 4.2 per cent.

Horten advised Nets Management and key employees in the IPO.

contacts

Henning Aasmul-Olsen

Partner