HMS Networks AB (publ) has successfully finalised its Initial Public Offering (IPO) and has been listed on the OMX Nordic Exchange in Stockholm. The first trading day was 19 October 2007, with HMS shares being traded in the category Small Cap, Information Technology.
HMS has been preparing for the listing on the main list of the OMX Nordic Exchange in Stockholm for several years. The offer price was set at EUR7.97 (74 SEK) per share, giving HMS a market cap of approximately EUR85million. At this price level, the offer was oversubscribed more than three times. The total number of shareholders at the listing was approximately 3000 and the international ownership by selected small cap funds was approximately 30 per cent.
Nicolas Hassbjer, CEO of HMS, comments: "I am delighted that the interest for our listing has been so strong. We welcome our new shareholders and look forward to a long-term development of HMS as a listed company.
"The listing does not have any effect on HMS' daily business and we will continue our strategy to expand our Anybus embedded and gateway products. The high demands of being listed on the Nordic Exchange gives additional proof of quality in HMS for our long-term customer relations, especially for our large global customers in our embedded business. Our commitment to continuous improvements of all areas of our operations has given HMS the profitability and cash flow to fund our long-term investments in technology, quality and efficient manufacturing. If necessary, we now also have access to the capital market as a listed company."
In the IPO, the Private Equity Fund Segulah sold the majority of its holding. Nicolas Hassbjer and Staffan Dahlström remain the main shareholders in HMS with 30 per cent of capital and votes. Employees and board members hold 2.5 per cent and an additional 5 per cent through stock options. SEB Enskilda bank was the lead manager and sole book runner of the offering.
