Mercell reports successful Initial Public Offering (IPO) at Merkur Market Stock Exchange
Mercell Holding AS is pleased to announce a successful completion of Initial Public Offering (IPO), which raised NOK 850 million before today’s listing on Merkur Market Stock Exchange. The first day of trading will be Thursday July 9th. Viking Venture invested in Mercell in 2018 and will continue as the lead investor.
The IPO attracted very strong interest from Norwegian, Nordic and international quality institutional investors and was more than 10 times oversubscribed excluding shares pre-allocated to cornerstone investors. Mercell secured backing from four cornerstone investors, Luxor Capital Group, DNB Asset Management, Swedbank Robur Fonder and Tin Fonder.
–We have experienced a lot of interest from Norwegian and foreign investors, and the emission was more than ten times oversubscribed. This is a great acknowledgement of Mercell as a company, our business model and strategy. Funds raised will be used to finance the company’s continued organic growth as well as further acquisitions in the European market, says Terje Wibe, CEO at Mercell.
–We are very happy about the successful listing at Merkur Market Stock Exchange at Oslo Stock Exchange. Viking Venture will continue as lead investor. The listing puts Mercell in a great position for further growth, says Joar Welde, Partner at Viking Venture and Chairman of Mercell.
Mercell is a digital platform for public procurement, where buyers and suppliers meet in a unique, web based market place. Mercell makes public procurement safe and transparent, and contributes to effective and fair competition in the full tender process. The Company is currently the leading player in the Nordics and builds on a business model with significant network effects. Mercell aims to become the leading player in Europe.