Kempower, a Finnish electric vehicle (EV) fast charging equipment manufacturer and solutions provider, is planning an initial public offering and a listing of its shares on the Nasdaq First North Growth Market Finland.
The planned IPO is expected to consist of a share issue, in which Kempower would issue new shares. The company aims to raise gross proceeds of approximately EUR 87 million in the offering.
The objective of the offering is to enable Kempower to execute its growth strategy, i.e., go-to-market and innovation strategy, and to continue to make investments in its production and production capacity, working capital, research and development, and organisation (including, among others, sales and marketing organisations). The offering and listing will enable the company to obtain access to capital markets, expand its ownership base and improve the liquidity of its shares. Additional visibility is also expected to improve Kempower’s recognition among the public and as an employer, and thus enhance Kempower’s competitiveness. The listing would also allow Kempower to use its shares more effectively in incentive programmes for Kempower’s personnel and as a means of consideration in potential acquisitions.
The following cornerstone investors have, subject to certain customary provisions, committed to subscribing for shares in the amount of approximately EUR 53 million in total in the contemplated offering, provided that the value of the company’s outstanding shares prior to the offering does not exceed EUR 219 million:
- certain funds managed by WIP Asset Management Ltd;
- Varma Mutual Pension Insurance Company;
- certain funds managed by Evli Fund Management Company Ltd;
- Ilmarinen Mutual Pension Insurance Company;
- Nordea Life Assurance Finland Ltd;
- Julius Tallberg Corp.;
- Danske Invest Finnish Equity Fund;
- certain funds managed by Sp-Fund Management Company Ltd; and
- Kempinvest Oy (a holding company partly owned by the Chairman of the Board of Directors of Kempower, Antti Kemppi).
Read the whole story at https://investors.kempower.com/ipo
Interview with the CEO
Kempower’s CEO Tomi Ristimäki talks about Kempower, its business and future plans in an interview with Verneri Pulkkinen for InderesTV.
(In Finnish, with English subtitles)