“The board of directors believes that the timing for a listing is right and looks forward to the continued development of the company in a public environment,” Evolution’s chairman of the board, Joel Citron, said.
Selling shareholders will primarily consist of Evolution’ senior management and board of directors, who will also consider increasing the number of shares sold if sufficient demand arises.
Although the final offering price will be determined through a book-building procedure and based on investor demand and general market conditions, early reports suggest it will be between SEK70-80 per share.
Although Evolution does not expect to begin trading until March 20, institutional investor Swedbank Robur Funds has committed to subscribing to 9.5% of the shares.
Individual investors Staffan Persson, Peter Lindell, Erik Selin and Niclas Eriksson are said to have committed to subscribing to SEK 215 million (€23.6 million/$25 million) in total, which amounts to approximately 8% of the firm’s total number of shares.