The IPO is expected to consist of a share issue of approximately EUR 75 million and the sale of shares by Sitowinen’s current shareholders.
The construction design and consulting company Sitowise announces that it is considering a IPO and listing on the main list of the Helsinki Stock Exchange. According to the company, the aim of the IPO is to support the implementation of the company’s growth strategy.
– We feel that the design of sustainable and intelligent living environments, if any, is an area of the future. We are proud to offer investors an attractive domestic and responsible investment target, CEO Pekka Eloholma says in a press release.
The IPO is expected to consist of a share issue of approximately EUR 75 million and the sale of shares by Sitowinen’s current shareholders. In addition to the main owner, Intera Fund, the company currently has about 200 employee owners.
The company says that the proceeds from the share issue will be used to repay Sitowinen’s existing debts and support its growth strategy. In connection with the growth strategy, Sitowise talks about acquisitions in which the shares of a listed company could act as consideration.
Sitowinen has projects mainly in Finland and Sweden. At the heart of the company are solutions for smart urban development and mobility. Among other things, the company has been planning the Raide-Joker light rail line to be built in Helsinki.
Last year, the Group’s turnover was approximately EUR 160 million. According to the company, net sales have grown at an average rate of almost 13 percent in recent years.
Source site www.is.fi