December 06, 2021
Translink advises Norrhydro on successful IPO on Nasdaq First North Growth Market Finland
Translink Corporate Finance in Finland, a world leader in specialised mid-market corporate financial advisory services, acted as the certified advisor for Norrhydro Group Plc, in its initial public offering (IPO) on Nasdaq First North Growth Market Finland. It’s anticipated Norrhydro’s growth will be based on its innovative digital solutions, which contributed to what has been cited as one of the most popular IPOs in recent years in Finland.
The outcome of the IPO was announced on 23 November 2021. Norrhydro received gross proceeds of about EUR 8 million and the company commenced trading on Nasdaq First North Growth Market Finland on 1 December, under the ticker ‘NORRH’. Translink will continue as its certified advisor going forward.
Mr Yrjö Trög, CEO of Norrhydro, says, “The IPO has long been in our strategy, and we have made determined progress towards it. As our financial advisor, Translink was responsible for the progress of the project according to a very tight schedule. With their help, we found the best anchor investors for the company.”
Norrhydro specialises in modern, intelligent, linear motion solutions through digital hydraulics for mobile machinery. Its institutional offering was oversubscribed 2.8 times and public offering 14.3 times. Subscriptions were received from about 12 000 investors, with the price per share at EUR 3.15.
This corresponds to a total market value of Norrhydro’s outstanding shares of approximately EUR 34 million, including the 2 539 682 new shares issued with the offering. New shares amounted to about 23% of the total number of outstanding shares after the offering.
Now, as certified advisor, Translink will ensure Norrhydro continues to meet the requirements of the Nasdaq First North marketplace. Mr Jari Lauriala, CEO of Translink Corporate Finance in Finland commented, “According to demand and overall feedback, Norrhydro’s IPO was a huge success, which will clearly take the company to the next level. We are thankful to Yrjö and his team for trusting Translink from the very beginning, and we are extremely delighted that all our internal objectives for a high-quality IPO process and financial advisory were met.”
He says that the success of the offering is a shining example of how IPOs can benefit digitally-led growth companies.
This is Translink’s first IPO on a stock exchange, making it a key development in the group’s five decades in operation and will be a growing focus for it going forward.
Translink Corporate Finance Finland, based in Helsinki, is one of the leading M&A boutiques in the Finnish market. Since its foundation more than 15 years ago, their partners completed more than 100 M&A transactions in different industries, worked closely together with a number of business partners and industry players, both locally and internationally. In addition Translink Finland is a Certified Adviser on NASDAQ OMX First North.
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Mike Pawson, Group CFO and shareholder Greenhous Group Ltd
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Steve Tate, CSF Chairman & CEO
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Translink proved to be a winner. We received global interest, from across Europe, the USA and China. BHP worked tirelessly, literally day and night to get the deal over the line in a very short timescale. I cannot recommend BHP enough, their dedication and international connections meant that we closed the deal well above our expected selling price.”
David Webster, Managing Director and shareholder of The Label Makers Limited
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Mattias Kaneteg, Miss Group founder and CEO
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Steffen Vogel, former owner of Cortex Technology
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Brett Valliant, Corporate development director, Diploma Healthcare Group
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Giulio Pedrollo, CEO of Pedrollo Group
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Stefan Bellinger, Managing Partner of Carbox
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