Wikborg Rein has assisted ECIT in its IPO
We have assisted ECIT AS in the listing of the company's shares on Euronext Growth Oslo with first day of trading 20 May.
The Company has completed a private placement of shares in a combined primary and secondary offering raising gross proceeds of NOK 730 million. An additional NOK 50 million will be raised in the event of a full-exercise of an overallotment-option. The market cap of ECIT was app NOK 3.5 billion at listing.
ECIT was founded in 2013 and support a large customer base delivering Accounting & Payroll (F&A) and a broad range of IT-services. ECIT has a proforma 2020 revenue of over 2 billion NOK and plus 2,100 employees across 9 countries. M&A has been a key driver of the Company's growth and ECIT has completed more than 100 acquisitions since 2013. ABG Sundal Collier, Arctic Securities and SEB were engaged by the Company as managers. Thommessen acted for the managers.
The Wikborg Rein core team comprised Fredrik D. Hals, Karoline Stock Evje, Christian Emil Petersen, Ingrid Aasa Haavaldsen and Dag Erik Rasmussen supported by a number of excellent WR resources for the due diligence process.
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