Roschier advised Linas Matkasse (LMK Group) and Herkules in the IPO and listing of LMK Group’s shares
The initial public offering of LMK Group’s shares and listing on Nasdaq First North Premier Growth Market in Stockholm has been completed, with 29 March 2021 as the first day of trading. Roschier advised LMK Group AB and its main shareholder Herkules Capital (through Herkules Private Equity IV).
LMK Group AB (publ) conducts its operations under the four brands Linas Matkasse (Sweden), Godtlevert and Adams Matkasse (Norway), and RetNemt Måltidskasser (Denmark), providing meal kit solutions to around 115,000 active and 405,000 registered customers in Sweden, Norway and Denmark.
The offering consisted of existing shares in LMK Group to a value of maximum SEK 325 million and new shares issued by the company to a value of SEK 250 million. The market value of the company prior to the offering was approximately SEK 760 million, setting the market value at first day of trading to approximately SEK 1 billion.
Due to strong investor demand, both from Swedish and international institutions as well as from the general public, the offering was oversubscribed and it was resolved to shorten the application period.