June 29, 2015 - Assignment

Coor Service Management lists on Nasdaq Stockholm

Coor Service Management Holding AB (publ) has been admitted to trading on Nasdaq Stockholm on 16 June 2015. The offering price was set at SEK 38 per share, corresponding to a market value of all shares issued by Coor of approximately SEK 3.6 billion.

The offering, which comprised an offering to the public in Sweden and an international offering to institutional investors, comprised a total of 58,349,521 shares, consisting of 44,078,948 newly issued shares that have been offered by Coor and 14,270,573 existing shares that have been offered by Cinven, Coor’s main owner. The total value of the offering, excluding the over-allotment option, amounts to approximately SEK 2.2 billion and corresponds to 60.9% of the total number of shares in Coor.

In connection with the IPO, the industrial services division of Coor was divested and Coor was refinanced.

Coor is a leading facility management provider in the Nordics, focusing mainly on integrated and complex integrated facility management contracts. Coor delivers specialist competences in workplace services (soft FM), property services (hard FM) and strategic consultancy to develop customers’ service operations.

Cinven and Coor were advised by Mannheimer Swartling in the offering, the carve-out of the industrial services division and the refinancing. The firm’s team handling the transaction mainly included Emil Boström, Mirka Ylinen Gorne, Louise Sannebrink and Klara Wessman (offering), Tom Wehtje and Martin Fagerlund (carve-out) and Daniel Karlsson and Teresa Camacho (refinancing).