DGAP-News

Mutares: Portfolio company Nordec Group Corporation is planning an IPO on the Finnish Nasdaq First North Growth Market

DGAP-News: Mutares SE & Co. KGaA / Key word(s): IPO/Investment Mutares: Portfolio company Nordec Group Corporation is planning an IPO on the Finnish Nasdaq First North Growth Market 30.05.2022 / 07:30 The issuer is solely responsible for the content of this announcement. NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, JAPAN, HONG KONG, NEW ZEALAND, SINGAPORE OR SOUTH AFRICA OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. PLEASE NOTE THE IMPORTANT INFORMATION AT THE END OF THIS ANNOUNCEMENT.

Mutares: Portfolio company Nordec Group Corporation is planning an IPO on the Finnish Nasdaq First North Growth Market

- Placement of new and existing shares of Nordec Group Corporation

- Current sole shareholder Donges SteelTec GmbH wants to place more than 50% of its existing shares of Nordec Group Corporation

- Nordec Group Corporation aims to raise gross proceeds of approximately EUR 7 million through the placement of new shares

- Commitment from Cornerstone investors to acquire shares with a total volume of not less than EUR 19.5 million at the final subscription price

Munich, 30 May 2022 – Nordec Group Corporation ("Nordec" or the "Company"), a portfolio company of Mutares SE & Co KGaA (ISIN: DE000A2NB650) ("Mutares"), is planning an initial public offering ("Offering") and a listing of its shares on the Nasdaq First North Growth Market Finland ("IPO"), a multilateral marketplace operated by Nasdaq Helsinki Ltd. Nordec is one of the leading providers of steel frame structures and envelope solutions for construction projects in the Nordic countries with a strong position also in the Central and Eastern European countries (CEE). The Company is expected to generate revenues of EUR 250–280 million and Adjusted EBITDA to reach between EUR 12–15 million in 2022.