Smoltek Nanotech Holding AB’s offer before the listing at AktieTorget was oversubscribed with 68 percent. In other words, Smoltek’s IPO was subscribed for to 168 percent. The company will receive 20,0 million SEK before the new share issue costs, which will amount to approximately 2,0 million SEK.
The subscription period for Smoltek’s offer was terminated on February 9, 2018. 650 investors have applied for shares in the offer resulting in that Smoltek have now 711 shareholders. The number of shares will increase by 1 117 300 shares to a total of 5 314 450 shares when the new share issue is registered at Bolagsverket. In advance, a number of qualified investors pre-committed subscriptions for shares equivalent to a value of 10,0 million SEK, corresponding to 50,0 percent of the offer.
The CEO of the nanotech company, Anders Johansson, is very satisfied with the result of the new share issue:
”I think it is a fantastic result with such a high subscription rate! It is encouraging that hardware-related technology now attracts such a great deal of interest, not least in these shaky times on the stock markets. We have now established the financial platform for our next phase”, says Anders Johansson.
Allocation and payment
Due to the high level of subscriptions can full allocation not be made. Allocation of shares has been decided by the board in agreement with the allocation principles established in the information memorandum dated in January 2018.
Contract notes will be sent to subscribers who have been awarded allocation on February 13 with settlement on February 16. The first day of trading at AktieTorget will be February 26, 2018.
Partner Fondkommission has been Smoltek’s financial advisor.
The Company was founded in 2005 and is a public company based in Gothenburg, Sweden. It specializes in development of nanostructure fabrication technology to solve advanced materials engineering problems. Smoltek has a portfolio of 65 patent assets, of which 48 are granted today. The market segment where Smoltek is active is called Advanced Packaging and is estimated by Research & Markets in a market update from September 2017 to grow with an average of 7,19 percent per year (CAGR) during the period 2016–2022 and have a market value of 40,33 MdUSD by year 2022.