CapMan Buyout portfolio company Harvia Plc to be listed on Nasdaq Helsinki stock exchange

CapMan Buyout press release                                           21 March 2018 at 5.45 p.m. EET

CapMan Buyout portfolio company Harvia Plc to be listed on Nasdaq Helsinki stock exchange

Not for release, publication or distribution, directly or indirectly, or into the United States, Canada, New Zealand, Australia, Japan, Hong Kong, Singapore or South Africa or any other jurisdiction in which the distribution or release would be unlawful.

CapMan Buyout portfolio company Harvia is listing its shares on Helsinki Stock Exchange. CapMan invested in Harvia in 2014, and two funds managed by CapMan, CapMan Buyout X Fund A L.P and CapMan Buyout X Fund B Ky, owned a total of 69.5% of all shares in Harvia before IPO. The funds managed by CapMan will remain as significant shareholders with an over 20% shareholding after the IPO.

The Board of Directors of Harvia Plc ("Harvia" or the "Company") have today decided together with CapMan Buyout X Fund A L.P and CapMan Buyout X Fund B Ky (together the "Funds Managed by CapMan"), acting on behalf of the Sellers (as defined below), on the completion of the IPO (as defined below). The final subscription price (the "Final Subscription Price") of the Offer Shares (as defined below) in the IPO is EUR 5.00 per Offer Share (as defined below), corresponding to a market capitalization of approximately EUR 93.5 million immediately following the IPO. The demand in the IPO was strong and the IPO was oversubscribed. Trading in the Company's shares (the "Shares") is expected to start on the Pre-list of Nasdaq Helsinki Ltd (the "Helsinki Stock Exchange") on or about 22 March 2018.

In the IPO, Harvia will issue 9,014,436 new Shares in the Company (the "New Shares") in total (the "Share Issue"), in addition to which the Funds Managed by CapMan and certain other existing shareholders in the Company (the "Sellers") will sell 1,250,729 Shares (the "Sale Shares") (the "Share Sale") (the New Shares and the Sale Shares together the "Offer Shares" and the Share Issue and the Share Sale together the "IPO"). The number of Sale Shares including the overallotment option amount to 2,789,838.

"CapMan invested in Harvia four years ago and already then we saw an IPO as an attractive opportunity for the company. We have developed Harvia towards this objective by strengthening the management, investing in international growth, both organically and through acquisitions, and by developing processes and reporting to the level required from a publicly listed company. I want to thank the management and whole personnel for their excellent work. CapMan remains as a significant shareholder after the IPO and I am confident that Harvia has a very good basis to continue executing its strategy successfully as a stock exchange listed company," comments Anders Björkell, Partner at CapMan Buyout.