References/30 Sep 2021

Borenius advised Modulight Corporation on its Nasdaq First North Growth Market Finland IPO

We advised Modulight Corporation, a Tampere-based biomedical laser company, on its oversubscribed EUR 90.9 million initial public offering (IPO) to Nasdaq First North Growth Market Finland. The company’s market cap at listing was approximately EUR 277 million, and the company has now over 16,000 shareholders. Trading with shares in First North began today.

Modulight designs and manufactures products for oncology, ophthalmology and genetics as well as provides solutions for selected high value-add applications, including quantum computing and digital press. Modulight’s products are used worldwide by many Fortune 500 companies, pharmaceutical companies, and well-known cancer centers and universities.

Founded in 2000 and headquartered in Tampere, Finland’s industrial capital, Modulight is yet another success story grown out of the city’s strong industrial heritage. Since Borenius has always been strongly present in the city, it makes us particularly happy that yet another Tampere-based firm has chosen listing as its future path. Along the years, we have advised many other Tampere-based firms in their successful IPOs and list transfers, such as Robit Plc and Gofore Plc.

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Juha Koponen


Helsinki, London, New York

Aksu Tuominen


Helsinki, London

Ville Latola



Eeva Terho



Max Malinen

Senior Associate


Jari Gadd