OSLO, NORWAY – 21 JANUARY 2019 – Zwipe announces that it has successfully raised NOK 120 million (USD 14 million) in the offering of new shares ahead of a planned admission to trading on Merkur Market, Oslo Børs. The offering was substantially over-subscribed attracting strong interest from institutional and professional investors as well as the general public in Norway and Sweden.
The offering and outcome in brief
Commenting on the capital raise André Løvestam, CEO of Zwipe, said “Zwipe is at the forefront of a global shift towards more secure and convenient contactless payments and the market is primed for growth. We are confident that our industry leading technology and partnerships will secure a strong market position both in the short and long-term. Thanks to the new funding received, we can intensify our efforts to support our customers and partners in Making Convenience Secure.”
Commenting on the capital raise Jörgen Lantto, Chairman of the Board of Zwipe, said “the capital raise and subsequent admission to trading at Merkur Market are important milestones for Zwipe, as the company seeks to capitalize on its strong position in the biometric payment marketplace and as the payment industry moves towards bringing biometric payment cards to consumers. We would like to thank our existing shareholders for their continued support and welcome all new shareholders to Zwipe.”
Carnegie acted as Manager and Joint Bookrunner together with Redeye in connection with the offering. In addition, Nordnet acted as Selling Agent. Advokatfirmaet Simonsen Vogt Wiig AS acted as legal advisor to the company and Advokatfirmaet Wiersholm AS acted as legal advisor to Carnegie.