The price has been set at 60 Swedish krona per share, giving the company a market value of 1.485 billion Swedish krona after the listing. The valuation is therefore in line with the recently rejected bid, but remains below the 2 billion that the owners were previously reported to expect.
ALSO READ: Ellos Rejected Bid: Demands at Least 2 Billion
In connection with the listing, the e-commerce company is issuing 5 million new shares, which is expected to provide the company with 300 million Swedish krona. If interest from the market proves to be higher than expected, there is room to expand the offering.
Millions from Investors
Prior to the listing, a group of investors has committed to subscribing for shares totaling 203 million Swedish krona. This investor group includes the Swedish financial profiles Martin Bjäringer and Carl Rosvall, as well as a Norwegian lineup consisting of the capital managers Heimdal Førvaltning and Sissener, the investment company Tinden Holding and the fund Storm Bond Fund. The latter is also related to Ellos' own chairman of the board, Morten Eivindssøn Astrup.
Ellos Group has established a strong position as a leading online destination in the Nordics. Through the share offering, both professional and private investors are given the opportunity to participate in our continued journey. With good financial development and a clear long-term strategy for profitable growth, we are well equipped for the next phase of development and we look forward to creating long-term value together with both new and existing shareholders, says Hans Ohlsson, CEO of Ellos Group.
The money raised from the listing will primarily serve as a basis for the company's continued development and growth. At the same time, management is keeping the door open to acquire other companies, provided the right opportunity arises.
However, if there are no interesting acquisition candidates on the market, there is a clear plan for the capital. Then the money will instead be used to pay off the company's debts and reduce the utilization of existing credit.
The listing marks a new chapter for Ellos Group and through the offering, new investors are given the opportunity to participate in the next exciting step in the company's journey, says Chairman of the Board Morten Eivindssøn Astrup and continues:
The last few years have been characterized by purposeful work that has laid the foundation for a leading and well-positioned business. The board has great confidence in management's ability to continue implementing the strategy and sees the listing as a natural development to broaden the ownership base and strengthen the company's long-term position. I look forward to welcoming new shareholders as Ellos Group takes the next step as a listed company.
The application period in Sweden and Norway opens on June 30 and closes on July 7, 2026 at 3:00 PM. Already the next day, July 8, trading is expected to begin on Nasdaq Stockholm under the short name "ELLOS".