White & Case Advises Banks on IPO of Class C Shares in Virala Acquisition Company

Global law firm White & Case LLP has advised Nordea Bank Abp and Skandinaviska Enskilda Banken AB, as joint global coordinators and bookrunners, on the initial public offering (IPO) of Class C shares in Virala Acquisition Company Plc.

The transaction represents the first IPO of a special purpose acquisition company (SPAC) in Finland. The shares were listed on the SPAC segment of the regulated market of Nasdaq Helsinki and, at the offer price, Virala Acquisition Company had a market capitalization of approximately €108 million.

Virala Acquisition Company is a Finnish SPAC which was founded by industrial family enterprise Virala Oy Ab. Its goal is to acquire a company seeking growth and with strong ties to Finland.

The White & Case team which advised on the transaction was led by partner Petri Avikainen (Helsinki) and included partner Tanja Törnkvist (Helsinki), counsel Henrikki Harsu (New York) and associates Heidi Hietanen and Liisa Rekola (both Helsinki).

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