Krogerus advises Lehto Group on its IPO on the official list of Nasdaq Helsinki
Krogerus advised Lehto Group on its initial public offering and listing of shares on the official list of Nasdaq Helsinki.
The IPO was oversubscribed over six fold. It included the issuance of 11,874,705 new shares and the sale of 1,732,340 shares by existing shareholders. Lehto Group will receive approximately EUR 60.5 million in gross proceeds before the deduction of fees and expenses. The transaction includes also an over-allotment option for OP Corporate Bank to place up to 1,470,821 existing shares held by the selling shareholders.
The final subscription price is EUR 5.10 per share, which implies a market value of EUR 297 million for Lehto Group immediately after the IPO.
Trading in the company's shares on the prelist of Nasdaq Helsinki began on 28 April. Trading on the official list is expected to begin on 2 May 2016.
Lehto Group is a Finnish construction and real estate group focusing on economically driven construction. The Company has divided its operations into four service areas: Business Premises, Housing, Social Care and Educational Premises and Building Renovation. Lehto Group currently operates in Finland and is geographically concentrated in growth centres. The company employed 423 people at the end of the financial year 2015.
The Krogerus team was led by partner Tom Fagernäs. He was assisted by counsel Marjukka Sippola and associate Antti Luhtala. Senior associate Sanna Lindqvist advised on tax matters.
