Sitowise was listed on the Helsinki Stock Exchange today
The company's public offering was oversubscribed several times. And as a result, there are among many others, a significant number of the Group's personnel in the new owners.
One big milestone was completed when Sitowise was successfully listed on the Helsinki Stock Exchange today, March 25th. The company's public offering was oversubscribed several times. And as a result, there are among many others, a significant number of the Group's personnel in the new owners.
– The interest and excitement around Sitowise’s IPO have been impressive, and we are truly thankful for it. We believe that designing sustainable and smart living environments is a business of the future, if any. Based on the feedback we have received, investors seem to share this view, says CEO Pekka Eloholma.
In the offering, Sitowise gained more than 9,000 new shareholders, including a wide group of major international and domestic institutions as well as almost 1,000 employee shareholders.
– We are especially overwhelmed by the active participation of our employees in the personnel offering. More than 800 Sitowise employees subscribed shares in the personnel offering, which means that more than half of all Sitowise employees are also company shareholders after the listing. The support of our top professionals is a strong basis for taking Sitowise to the next level, Eloholma continues.
In the offering, Sitowise raised gross proceeds of approximately EUR 75 million and, in addition, Intera and certain other shareholders sold shares worth approximately EUR 85 million.
Sitowise's owners now include significant Finnish and international institutions such as Capital World Investors, Didner & Gerge Fonder, Evli-Rahastoyhtiö Oy, Keskinäinen Eläkevakuutusyhtiö Ilmarinen, Lannebo Fonder AB ja Paradigm Capital Value Fund. The share issue received widespread international interest and was oversubscribed. After the listing, more than half of Sitowise’s employees are also the company's shareholders.
– The company will have a strong owner base, consisting of a wide group of international and domestic institutions and hundreds of our employees, among others. As a listed company, Sitowise will be even better equipped to seek further growth in Finland and elsewhere in the Nordics, both organically and through M&A. I would like to extend my gratitude to all our shareholders for the trust you have shown towards Sitowise, says Chairman of the Board of Directors Eero Heliövaara.
The start of trading was celebrated on March 25th in the virtual bell ringing event of the Helsinki Stock Exchange and Sitowise. Sitowise personnel from Latvia, Sweden, Finland and Estonia participated in the event. In addition to the official bell ringing of the Helsinki Stock Exchange and Sitowise, the event featured bell ringing videos filmed by Sitowise employees from various locations.
– It was great to get together as a group and to see how diverse the team of experts we have grown in recent years. There are already more than 1,900 of us in four different countries - with this group we can achieve a lot”, Pekka Eloholma says.