22 March 2016

Gernandt & Danielsson advised the managers in the Humana IPO

Gernandt & Danielsson has advised Carnegie Investment Bank, Skandinaviska Enskilda Banken, ABG Sundal Collier and DNB Bank in connection with the listing of Humana AB’s shares on Nasdaq Stockholm.

Humana is a leading Nordic care company with over 14,000 full and part time employees which offers services within individual and family care, personal assistance, elderly care and housing with special service according to LSS.

The final price in the offering has been set at SEK 62 per share, corresponding to a market capitalization of Humana of approximately SEK 3.3 billion. The offering comprised both newly issued shares and shares offered by the selling shareholders. The newly issued shares provide Humana with gross proceeds of approximately SEK 450 million before deduction of costs related to the offering. In order to cover potential over-allotment in the offering, the principal owner (funds advised or managed by Argan Capital Management L.P.) has undertaken to sell additional shares, corresponding to approximately 13 percent of the total number of shares in the offering. Given full exercise of the over-allotment option, the offering corresponds to a total value of approximately 887 SEK million.

Carnegie and SEB acted as Joint Global Coordinators and Joint Bookrunners and ABG Sundal Collier and DNB acted as Joint Bookrunners.

Gernandt & Danielsson advised the Joint Global Coordinators and Joint Bookrunners with a team consisting of Partner Fredrik Palm, Senior Associate Gustav Skogö and Associate Sofia Tångelin.

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