Danske Bank – Listing of Toivo Group

We advised lead manager Danske Bank A/S, Finland Branch, in Toivo Group Oyj’s listing on Nasdaq First North Growth Market Finland.

The initial public offering consisted of public, institutional and personnel offerings and was oversubscribed. The company raised gross proceeds of approximately EUR 13.0 million from the IPO and has a total of 1,500 shareholders after the IPO.

Trading in Toivo Group’s shares began on First North on 11 June 2021.

Toivo Group is a Finnish real estate company founded in 2015 that engages in project development and long-term ownership of real estate. Toivo Group’s turnover in 2020 was EUR 4.3 million and its operating profit was EUR 7.2 million.