– Yes, the book was covered in record time, says CEO Ørjan Svanevik in Arendals Fossekompani to Finansavisen.
In early trading on Monday, the Arendal Foss share rose 11.62 per cent to NOK 4,420, which gives the company a market capitalization of close to NOK 9.7 billion. At 2 pm, the price was 4,300 kroner.
Since the turn of the year, the share has risen 67.9 per cent, and measured against the level at the beginning of October last year, the rise is 84 per cent.
Sale and issue
In total, shares were subscribed for NOK 1 billion at a price of NOK 32, half of which are newly issued shares and as many the result of a sale from the parent company Arendals Foss. It prices Volue at 4 billion kroner.
The facilitators went to the market with the drawing invitation on Monday morning, and in a short time the location was fully booked. Thus, the book closed two days before planned.
The major subscribers in the issue and sale are Eika Kapitalforvaltning, Luxor Capital Group, Andenæsgruppen, CentraGruppen, Norron, Sissener, Danske Invest, Delphi Fondene and KLP Kapitalforvaltning.
In advance, these nine had committed to enter with amounts ranging from 100 to 30 million kroner, a total of 500 million kroner. Thus, the volume on Monday was limited to half a billion.
The largest among the pre-subscribers were Eika Kapitalforvaltning and Luxor Capital Group with NOK 100 million each.
– Kinderegg
– With such renowned and leading ESG investors together with the skilled team in Volue, everything is in place for good value creation in the future. I look forward to the continuation with growth, expansion and mergers and acquisitions, says Svanevik.
– There is a huge appetite for baby egg software, ESG and recurring revenue.
– There are very few such companies that meet all parameters. When they come, there will be strong demand, says the CEO of Fossekompaniet.
The green technology company Volue is a leading supplier of business-critical software and solutions for the energy, power grid and infrastructure markets. The company contributes to a green energy transition among power producers and distributors.
– A separate listing of Volue will further strengthen the opportunity for future growth and value creation, says Svanevik.
Strong growth
– The listing of Volue on Merkur Market also highlights the underlying values in Arendals Fossekompani, and underlines our strategy of developing green technology companies with a global impact and leading market positions, says Arendals Fossekompani’s manager.
In the second quarter, Volue had a strong development with 15 percent growth in annual subscription revenues and delivered 20 million in profit.
The proceeds from the capital increase will be used for further growth in the company.
Volue offers business-critical analyzes, services, technology and IT solutions to the energy sector, municipalities, construction companies, the maritime industry, defense and to the transport sector.
One year ago, the company got the German power giant EnBW on the customer list. It ensures stable revenues for the technology company. The agreement basically has a duration of up to 10 years.
Listed October 19th
The company has applied to be admitted to listing on Merkur Market, where the first trading day is expected to be around Monday 19 October.
Volue is the result of Arendal Fossekompani merging its subsidiaries Powel, Scanmatic, Markedskraft and Wattsight in March last year.
The company has 500 employees in more than 30 offices in Norway, Sweden, Denmark, Switzerland, Poland, Turkey, Finland, Austria and Germany.
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