The cloud communications services company Sinch AB (publ) has carried out a directed new share issue, raising approximately SEK 700 million before transaction costs.
The subscription price was set at SEK 665 per share, and determined through an accelerated book building process led by Carnegie, Danske Bank and Handelsbanken Capital Markets.
The private placement generated a large interest and involved both Swedish and international institutional investors.
The company intends to mainly use the proceeds to increase the financial flexibility for new acquisitions.
Carnegie, Danske Bank and Handelsbanken Capital Markets acted as Joint Bookrunners in connection with the transaction. Baker McKenzie acted as legal advisor to the Joint Bookrunners. Baker McKenzie's team consisted of Joakim Falkner and Ian Gulam from the firm's Capital Markets group in Stockholm and Adam Farlow and Charles Farnsworth from the firm's Capital Markets group in London.