Shares in insight exchange and sample management platform Cint rose 30% to SEK 92.5 (EUR 9.2) per share from the original offer price of SEK 72 (EUR 7.2), after the firm placed its initial public offering (IPO) on the Nasdaq Stockholm this morning. The listing values Cint at more than EUR 1bn.
Founded in 1998 by former CEO Bo Mattsson, Cint now operates from fourteen global offices and its consumer network comprises more than 144 million respondents in more than 130 countries. In 2016, the firm was acquired by investment firm Nordic Capital for an undisclosed sum, and in 2020 its revenues increased 37% to SEK 986m (EUR 98m).
At the beginning of this month, Cint said its Board of Directors and owners had agreed that the company's shares would be listed via an IPO, for which the company was expecting proceeds to be about SEK 760m (EUR 75m) before transaction costs. In a statement, the firm said those proceeds would be used for future growth, potential acquisitions and 'general corporate purposes'.
The offering attracted 'very strong interest' from large Swedish and international institutional investors as well as the general public in Sweden and was substantially oversubscribed.
CEO Tom Buehlmann (pictured) comments: 'Cint's listing on Nasdaq marks the start of a new chapter. Our commitment to the digital transformation of the insights sector has never been stronger. I am incredibly proud of our achievements so far. More importantly, we at Cint, are only just getting started; the best is yet to come'.
Web site: www.cint.com .
All articles 2006-21 written and edited by Mel Crowther and/or Nick Thomas unless otherwise stated.