Equity Capital Markets

Equity Capital Markets

Equity capital markets issues call for a reliable, skilled and innovative partner.

We regularly advise issuers and manager banks in share and rights issues as well as in listings on the Helsinki Stock Exchange’s main list and First North.

We will coordinate the drafting of the prospectus, handle the due diligence review and support your company in fulfilling its IPO and listing obligations. Several of our lawyers also have a degree in finance, which enables us to make the drafting process easy and smooth both for the issuer and the manager.

As our client, you will also benefit from our efficient project management and processes, our excellent contacts with the authorities and our experience and expertise relating to the book-entry system.

We also have experience and expertise relating to listing on markets outside of Finland. We participate actively in drafting market regulation and model documentation. We have participated in the drafting of the Issuer’s Handbook published by the Finnish Foundation for Share Promotion since 2012, when Nasdaq First North started operating in Helsinki. Latest edition of the Issuer’s Handbook (for a MTF) was published in August 2022. In addition, we have assisted the Finnish Foundation for Share Promotion in the preparation Issuer’s Handbook aimed for the main list of the Helsinki Stock Exchange.

  • Drafting prospectuses and releases for the company’s approval
  • Planning and implementation of the due diligence review of the listing company or issuer
  • Support in corporate governance
  • Corporate law decisions and registrations
  • Reporting and disclosure obligations
  • Legal opinions
  • Advice relating to the book-entry system
  • Private placement exemptions
  • Fulfilment of obligations of listed companies
  • International securities offerings 

We represent both companies and manager banks in Finnish and international share issues and listings.

The Legal 500, IFLR1000, Chambers Europe and Chambers Global rank our services among Finland’s best.

Latest references

We successfully represented a panel of reinsurance companies in an international ad hoc arbitration. The dispute arose out of a reinsurance treaty under the terms of which the reinsurers had reinsured a portfolio of risks underwritten by the cedent. The parties disagreed as to whether the reinsurance provided coverage for a certain loss that had occurred because of the market turmoil caused by the Covid-19 pandemic. The case involved highly complex legal and contractual questions requiring special expertise on reinsurance law and practice. The arbitral tribunal rejected the counterparty’s claims for reinsurance compensation against our clients in full. The amount in dispute was approximately EUR 34 million.
Case published 16.9.2025
We supported byFounders.vc as the Finnish counsel in their investment in DataCrunch Oy in a USD 64 million Series A funding round. DataCrunch provides scalable AI compute solutions from energy-efficient data centers in Iceland and Finland. byFounders.vc is the community-powered early-stage venture fund investing in globally ambitious teams connected to the Nordic and Baltic countries.
Case published 11.9.2025
We advised Springvest Oyj in organising a EUR 45 million Series A funding round for ReOrbit, a space technology company and a leading provider of software-first satellites. It’s the largest all-equity Series A round in Finland and one of the most significant deals overall in the European space and defence sector. The purpose of the funding round is to support ReOrbit’s growth. The round consisted of a private placement reserved for professional and institutional investors, which included, e.g. Icebreaker.vc, Expansion VC, 10xFounders, Inventure VC, Varma Mutual Pension Insurance Company, and Elo Mutual Pension Insurance Company, and an EUR 8 million public share offering, which was oversubscribed within 4.5 hours. Springvest is a Finland-based investment firm that connects unlisted growth companies with investors. ReOrbit builds sovereign satellites and connected systems for national security.
Case published 9.9.2025
Castrén & Snellman advised the lead investors Ten Eleven Ventures and Tesi in the EUR 275 million Series B financing round of IQM Quantum Computers, the global leader in building quantum computers. The round is largest Series B round ever in Finland and the second largest in the Nordics. In addition to the lead investors represented by C&S, the round was participated by several new and existing investors, including pension funds Elo Mutual Pension Insurance and Varma Mutual Pension Insurance, strategic investors Companies of Schwarz Group and Winbond Electronics Corporation, and sovereign wealth funds EIC and Bayern Kapital. Ten Eleven Ventures is the original cybersecurity-focused, global, and stage-agnostic investment firm. The firm identifies, invests in, and helps grow top cybersecurity companies addressing critical digital security needs, leveraging its team, network, and experience to build successful businesses. Since its founding, Ten Eleven Ventures has raised over USD 1 billion and made over 60 cybersecurity investments across various stages worldwide. Tesi (Suomen Teollisuussijoitus Oy / Finnish Industry Investment Ltd) is a state-owned investment company with an industrial policy mission focused on driving economic growth, renewal, and investments. Tesi invests on market terms both in venture capital and private equity funds, and directly in startups, scale-ups, and large industrial projects. IQM Quantum Computers, founded as a deep tech spin-off from Aalto University in 2019, specialises in developing quantum computers utilizing superconducting circuits. The company designs and produces quantum processors at its facility in Espoo, providing computing solutions and optimizations tailored to both research and industrial applications. In addition to its Finnish operations, IQM has expanded its presence to Germany, France, Italy, Japan, Poland, Spain, Singapore, South Korea, and the United States.
Case published 4.9.2025