Borenius advised Harvia Plc on its Nasdaq Helsinki IPO

We advised Harvia Plc (“Harvia”) on its EUR 58,900,000 initial public offering (“IPO”) on Nasdaq Helsinki. The IPO consisted of a share sale by Harvia’s majority shareholder CapMan, the Harvia family and certain other shareholders. In addition to the share sale, the IPO also included a personnel offering of new shares to Harvia’s employees and directors.

Harvia is the world’s leading sauna heater manufacturer with exports to over 85 countries. Harvia operates in the City of Muurame in Central Finland. In addition, it has its own production sites in China, Romania and Estonia as well as a contract manufacturing partner in Russia.

Trading on Harvia’s shares began on 22 March 2018 on the Nasdaq Helsinki official list.

Danske Bank acted as the Global Coordinator and Bookrunner, while Handelsbanken acted as the Joint Bookrunner.