Stock Exchange | Nightingale’s IPO was oversubscribed – trading will begin on Friday

The IPO of the health technology company is by far the largest for the First North marketplace.

Health technology company Nightingale Health’s IPO was a success, the company said in a press release.

The company therefore intends to list on the Helsinki Stock Exchange’s First North marketplace. Trading in the share will begin on Friday.

The company will receive gross assets of approximately EUR 110 million in the IPO, and its market value will increase to approximately EUR 425 million. This is by far the largest First North IPO in Finland.

Read more: Listed on the stock exchange, Nightingale is a leap into the unknown for the investor

According to Nightingale, its IPO aroused strong interest among international and Nordic investors. 80 per cent of the institutional offering was allocated to international and 20 per cent to Finnish investors.

The largest investments were made by the Swedish AP4 pension fund, DNCA Invest’s mutual funds and the equity funds of savings banks and FIM.

The number of the company’s shareholders will increase to approximately 5,500 due to the IPO. Nightingale said already on Wednesday due to the suspension of the public offering due to oversubscription.

Nightingale’s current shareholders did not sell their shares in the IPO, but all the funds raised in the issue will be used to accelerate the company’s growth.

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