On 27 October 2017, the ordinary shares in Ferronordic Machines AB (publ) were admitted to trading on Nasdaq Stockholm. Ferronordic Machines is the authorized dealer of Volvo CE, Terex Trucks, Dressta, Mecalac and Rottne in Russia. In connection with the listing, the general public in Sweden and institutional investors in Sweden and abroad, were offered to acquire ordinary shares corresponding to approximately 26 per cent of the total number of ordinary shares in the company after the completion of the offering. The price has been set to SEK 150 per share, which entails a total enterprise value of SEK 1.7 billion directly after the listing.
In connection with the listing, Ferronordic Machines made an offer to its existing holders of preference shares to convert their shares into ordinary shares in accordance with certain provisions in the company's articles of association. Approximately 73 per cent of the preference shares were submitted for conversion in connection with the offer.
Gernandt & Danielsson advises Ferronordic Machines with a team primarily consisting of partner Fredrik Palm and senior associate Oscar Nyrén.