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Press release Halmstad 24 March 2010
Arise Windpower's share price set at SEK 55 and the company raises MSEK 550 in
new equity. Trading on NASDAQ OMX commences today.
Arise Windpower's Initial Public Offering has generated significant interest.
The offer comprised 10,730,000 shares excluding over-allotment and was
oversubscribed. The final offer price was set at SEK 55 per share, which means
that the company raises MSEK 550 through the new issue in the offer before
expenses relating to the offer and excluding the over-allotment, which
corresponds to a total market capitalization of approximately MSEK 1,750. The
number of shareholders will amount to approximately 4,500 and comprise a number
of the most well renowned long term institutional investors in the Nordic
region, and a large number of retail investors.
Arise Windpower AB has agreed to undertake to issue and allot, at the request of
ABG Sundal Collier AB and no later than the date occurring 30 days after the
first day of trading in the company's shares, another 1,609,500 new shares to
cover the over-allotment meaning that the company can raise up to MSEK 90 of
additional capital.
Pehr G Gyllenhammar, Chairman of Arise Windpower AB, commented: ”We are proud of
the development in Arise Windpower over the recent years. We are in the process
of conducting a large-scale build-out of approximately 300 large wind power
turbines, which requires equity in combination with debt and operational cash
flows. The existing wind power operations already generate positive cash flows
which means that the new equity raised will exclusively be used for investments
in new wind farms. This new issue secures equity financing for over 100 new wind
power turbines. We are pleased that the company is now entering its next stage
as a listed company.”
Peter Nygren, CEO of Arise Windpower AB, commented: ”During the last two weeks
we have seen strong interest in Arise Windpower from investors. We look forward
to entering this new phase as a listed company, raising the profile of the
company among investors and the general public.”
Trading on the NASDAQ OMX Nordic Exchange in Stockholm will commence today, 24
March 2010, with the ticker “AWP”. The ISIN code is SE0002095604.
ABG Sundal Collier AB acted as the company's lead manager and bookrunner, and
Setterwalls as legal advisor in connection with the IPO.
For further information, please contact
Peter Nygren, CEO Arise Windpower AB (publ)
+ 46 706
300 680
info@arisewindpower.se
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Arise Windpower AB is a leading Swedish company within onshore wind power. The
company's business concept is to sell electricity produced by its own land-based
wind turbines located in southern Sweden. The company's target is to have
erected about 300 land-based wind turbines with a combined annual output of
about 2 TWh of renewable electricity.
Arise Windpower AB (publ), P.O Box 808, 301 18 Halmstad Sweden,
www.arisewindpower.se Org.nr. 556274-6726
Arise Windpower's share price set at SEK 55 and the company raises MSEK 550 in new equity. Trading on NASDAQ OMX commences today
| Source: Arise AB
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