Listing on First North
We were Norrhydro Group Plc’s legal advisor in the company’s listing on Nasdaq First North Growth Market Finland.
The initial public offering consisted of public and institutional offerings and was oversubscribed 7.0 times. Norrhydro Group raised gross proceeds of approximately EUR 8 million from the IPO and gained approximately 12,000 new shareholders.
‘Our goal was to attract many new institutional and private investors as Norrhydro shareholders, and the offering was a great success on both counts’, says Norrhydro’s CEO Yrjö Trög.
Trading in the company’s shares began on First North on 1 December 2021.
Norrhydro is a Finnish pioneer of motion solutions and a provider and system supplier of energy efficient hydraulic cylinders. The company is specialised in high-quality, tailored and energy-efficient hydraulic cylinders, demanding linear motion solutions and mobile machinery. In 2020, the company’s turnover was EUR 19.9 million, EBITDA 3.8 million and operating profit 3.0 million.