The brand giant Jordanes will make an issue of NOK 1.5 billion in connection with an application for listing on the Oslo Stock Exchange, it is stated in a stock exchange announcement.
In connection with the listing, a limited sale of existing shares by certain shareholders is also planned.
According to the announcement, the net proceeds will be used to strengthen the company’s balance sheet for increased flexibility, and to accelerate strategic growth opportunities. As a result of the issue and expected EBITDA growth, the company expects to have a debt ratio of less than three times at the end of 2024.
Jordanes is the company behind brands such as Synnøve Finden, Sørlandschips and Peppes Pizza.
– This is a milestone for Jordanes. We established Jordanes with an ambition to build strong brands for the Scandinavian consumer. For the past 17 years, we have succeeded in this, with a goal of reaching consumers with products that everyone needs every day, says CEO Jan Bodd in a comment, and believes that after the IPO the company will be well positioned for future growth.
The group currently has a total of 2,700 employees and nine production facilities. 80 percent of the turnover comes from Norway, while the remainder mainly comes from other Nordic countries.
In 2023, Jordanes had revenues of NOK 6.5 million, an increase of 11 per cent from the previous year.
According to the message, further announcements related to the stock market listing will be made in due course.
Tags: collect billion connection Oslo Stock Exchange listing
