Storytel AB (publ) has completed a directed share issue through an accelerated book building procedure, providing the company with proceeds of approximately SEK 948 million before deduction of transaction costs.

The directed issue was significantly oversubscribed. A large number of Swedish and international institutional investors participated, such as Handelsbanken Fonder, Livförsäkringsbolaget Skandia, Skandia Fonder, Swedbank Robur, TIN Fonder and Vitruvian Partners, among others.

The proceeds are intended to, inter alia, finance the Storytel's accelerated investments in content production, sales and marketing.

ABG Sundal Collier AB was Sole Global Coordinator and Joint Bookrunner, Swedbank AB (publ) in cooperation with Kepler Cheuvreux was Joint Bookrunner and Baker McKenzie acted as legal advisor to Storytel in connection with the directed issue. Baker McKenzies team consisted of Tobias Edenman, Joakim Falkner, Ian Gulam and Stefan Balazs.
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