Initial Public Offering (IPO) 2020
The Initial Public Offering (“IPO”) of Bilot Plc (”Bilot” or ”Company”) on the Nasdaq First North Growth Market Finland marketplace has been over-subscribed and the Board of Directors decided to discontinue the subscription period as per the terms of the IPO on the first possible moment on Friday 6 March 2020 at 16.30 (EET).
Trading on Nasdaq First North Growth Market Finland (“First North”) began on Tuesday 17 March 2020.
The company offered a preliminary maximum of 1,054,726 new shares. Due to the oversubscription of the offering, the Board of Directors decided to exercise the over-allotment option as described in the terms and conditions of the IPO, increasing the number of offer shares offer by a maximum of 149,254 new shares in the company. The company is issuing 1,203,980 new shares as follows:
- 374,781 shares to to private individuals and corporations in Finland (”Public Offering”)
- 729,697 to institutional investors in Finland and abroad if the requirements of local regulations are met (”Institutional Offering”)
- 99,502 shares to employees in permanent employment or service relationships with the company or its wholly owned subsidiaries during the subscription period as well as to the members of the boards and management teams of the company and its wholly owned subsidiaries (”Personnel Offering”)
The IPO was oversubscribed 5.3 times in total not including the over-allotment. Proportionally to the preliminary number of shares, the public offering was oversubscribed 18.7 times, the institutional offering 3.4 times and the personnel offering 1.3 times.
The subscription price of the offered share was EUR 6.70 per share in the public offering and institutional offering and EUR 6.03 per share in the personnel offering. The valuation of all of the company’s shares collectively, based on the subscription price of the public offering and institutional offering is about EUR 24.9 million immediately after the IPO.
The certified advisor and place of subscription of the IPO was Alexander Corporate Finance Oy. Nordnet Bank AB, Finland Branch (“Nordnet”) was also the place of subscription in the public offering and institutional offering (www.nordnet.fi/fi/bilot).
Bilot – the pioneer of digital business
Bilot is a Finnish software and IT service company that provides its customers with a strategic competitive advantage by helping them build the ultimate digital customer experience. Bilot offers its customers a comprehensive range of digital services and solutions for different phases of the customer path, as well as intelligent sales and marketing tools powered by artificial intelligence and analytics. Recognized for its top exertise, Bilot enjoys a strong market position in Finland in the fields of leading software platforms and key technology ecosystems (including SAP and Microsoft) as well as integrating them into a seamless part of the customer’s business operations.
Bilot’s strengths and competitive advantages
- Bilot operates in a growing market.
- Bilot has a wide and growing customer base.
- Bilot has a diverse service portfolio and strong partnerships.
- Bilot invests in growth.
- Bilot staff members are experienced and committed specialists in their own field.
Objectives of listing the share
The objective of listing is to support growth, an expanding the service offering and internationalisation of the company in accordance with the company’s strategy. The listing will also enable the use the company’s shares as payment in future acquisitions, acquiring finance on the capital market and further developing company recognition and reputation.
|The IPO subscription period began||2 March 2020 at 9.30 a.m.|
|The IPO subscription period was suspended||6 March 2020 at 4.30 p.m.|
|The result of the IPO was published||9 March 2020|
|The first trading day on the First North||17 March 2020|