24SevenOffice has carried out a primary issuance of shares of approximately SEK 300 million at a subscription price of SEK 42,70 per share. The subscription price was determined through an accelerated bookbuilding procedure.
24SevenOffice's vision is to empower businesses for the future, through delivering world class cloud based business systems to small and medium-sized companies in the Nordic region. Their model-based business system is currently used by 56,000 companies in the Nordic region.
24SevenOffice intends to use the proceeds from the primary issuance to accelerate growth initiatives, including M&A opportunities, and for general corporate purposes.
Pareto Securities acted as Sole Manager and Bookrunner while Baker McKenzie acted as legal advisor to 24SevenOffice. Joakim Falkner, Ian Gulam and Marlene Wiklund from Baker McKenzie's Capital Markets team in Stockholm were involved in the transaction.