case / 13 Oct 2020
Setterwalls advises Wästbygg Gruppen AB (publ) in connection with the listing on Nasdaq Stockholm
Setterwalls advises Wästbygg Gruppen AB (publ) (“Wästbygg”) in connection with the listing of Wästbygg’s class B shares on Nasdaq Stockholm. The trading in Wästbygg’s shares commenced on 13 October 2020.
Wästbygg is a construction and property development company that is well-established in the most expansive markets in Sweden. The Company was founded in 1981 in Borås and has offices in seven Swedish cities. The Company is also represented in Norway, Denmark and Finland via the group company Logistic Contractor. Wästbygg is primarily focused on the three segments Residential, Commercial (including community service properties) and Logistics and industry. Wästbygg provides construction and property development in all segments. The Logistics and industry segment consists of the group company Logistic Contractor, a leading construction and property development company in the Swedish logistics market.
The offering in connection with the listing comprised 8,333,333 new B shares issued by Wästbygg, corresponding to approximately SEK 800 million and 1,562,500 existing B shares, which were offered by Wästbygg’s CEO, and part owner, Jörgen Andersson via Fino Förvaltning AB, corresponding to approximately SEK 150 million. In addition, the Board of Directors of Wästbygg has committed to issue a maximum of approximately SEK 143 million and a maximum of 15 percent of the number of shares in the offering as an overallotment option. Provided that the Overallotment option is exercised in full, the total value will amount to approximately SEK 1,093 million.
Equity Capital Markets, Corporate law, Building & construction, Properties