Smart Wires Technology Ltd has carried out a private placement of Swedish Depository Receipts (“SDRs”) representing shares in the company. The private placement was directed to Swedish and international qualified investors, raised gross proceeds of approximately SEK 1.3 billion. Subsequently, the shares have been listed on Nasdaq First North Growth Market with 18 May 2021 as first day of trading.
Smart Wires conducts grid technology business that helps utilise, modernise, optimise and monetise grid capacity. The company operates in the global transmission grid technology market and is a leader in modular power flow control technology. Currently, Smart Wires’ main projects are localised in Europe, the United States and Australia with upcoming projects in South America and Canada.
Pareto Securities acted as Manager in the private placement and the listing. Baker McKenzie acted as legal advisor to Pareto Securities with an international Capital Markets team consisting of Joakim Falkner, Johanna Flink and Ian Gulam from Stockholm, Adam Farlow, Roger James and Charles Farnsworth from London as well as Paul DePasquale from New York.