Trifork plans IPO in Copenhagen, dual-listing in Zurich
ZURICH (Reuters) – Danish software firm Trifork is considering floating on Nasdaq Copenhagen with a subsequent dual-listing on the Swiss stock exchange SIX, the company said on Tuesday.
The contemplated initial public offering (IPO) is expected to consist of the sale of existing shares, as well as new shares equivalent to 5% of the existing share capital, it said in a statement.
The existing shares are being offered by GRO Holding I ApS, Kresten Krab Holding ApS and Trifork’s founder and CEO Jorn Larsen – who intends to remain the largest shareholder – and other shareholders.
Net proceeds are expected to be mainly used for acquisitions in Denmark, the Netherlands, Switzerland and Britain, increasing its existing investments and general corporate purposes, Trifork said.
The company’s management, including Larsen, and the board of directors will commit to a lock-up arrangement of 540 days.
Following the potential offering on Nasdaq Copenhagen the company plans to apply SIX Swiss Exchange, to allow its shares to be traded there as a dual-listing.
Carnegie Investment Bank, Credit Suisse and Danske Bank have been appointed as Joint Global Coordinators and Joint Bookrunners.
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