DGAP-News

Mutares: Nordec Group Corporation cancels its IPO on the Nasdaq First North Growth Market in Finland and Mutares takes management decision to currently not proceed with a potential bond issue

DGAP-News: Mutares SE & Co. KGaA / Key word(s): IPO/Bond Mutares: Nordec Group Corporation cancels its IPO on the Nasdaq First North Growth Market in Finland and Mutares takes management decision to currently not proceed with a potential bond issue 29.06.2022 / 11:00 The issuer is solely responsible for the content of this announcement. Portfolio company Nordec Group Corporation cancels its IPO on the Nasdaq First North Growth Market in Finland and Mutares takes management decision to currently not proceed with a potential bond issue

Munich, 29 June 2022 - Nordec Group Corporation ("Nordec" or the "Company"), a portfolio company of Mutares SE & Co. KGaA (ISIN: DE000A2NB650) ("Mutares"), has today decided to cancel its Initial Public Offering (IPO) and subsequent listing of its shares on the Nasdaq First North Growth Market in Finland due to an abnormal capital markets situation.

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. Despite the strong interest from institutional and retail investors, Nordec has decided not to further go ahead with the planned IPO due to the present unstable market situation. Nordec will now focus on further driving its excellent performance, to reach its strategic targets for the coming months.

Johannes Laumann, CIO of Mutares, comments: “A large orderbook and a promising deal pipeline in the Company supported a strong starting position for the IPO. However, the abnormal capital market conditions and the still existing uncertainties may have led to unstable effects during and after the IPO placement. The Nordec team will now focus on accelerating the implementation of the Company’s growth strategy and closely monitor and reassess potential capital market transactions with the Nordec Group, as we are convinced of the robust business model and its growth potential.”