Johan Thiman

Representative transactions include:

IPO/listing

Representation of GiG Software PLC, a B2B iGaming technology company, and its former parent company Gentoo Media Inc. on the spin-off and distribution of Gentoo Media's platform business GiG Software to Gentoo Media's shareholders, and the listing of Swedish Depositary Receipts (SDRs) indirectly representing shares in GiG Software on Nasdaq First North Premier Growth Market. The spin-off splits Gentoo Media into two distinct entities: GiG Software, which will be operating independently as a new public company, managing the platform and sportsbook business; and Gentoo Media, which will continue to operate independently as a public company dual-listed on Nasdaq Stockholm and Oslo Børs and manage the media business. The spin-off was implemented by way of a series of transactions involving cross-border mergers in the US and Malta, and the issuance of Norwegian Depository Receipts, representing Maltese shares, and SDRs.

Representation of Carnegie Investment Bank (publ) as sole global coordinator and joint bookrunner and DNB Markets (part of DNB Bank ASA, Sweden Branch) and Skandinaviska Enskilda Banken (publ) as joint bookrunners on the SEK 2 billion initial public offering (IPO) and listing on Nasdaq Stockholm of Rusta, a discount retailer with approximately 200 stores across Sweden, Norway, Germany and Finland, in addition to an e-commerce offering.

Representation of ABG Sundal Collier as sole global coordinator and joint bookrunner, and Berenberg as joint bookrunner, on the SEK 520 million IPO and Nasdaq First North Premier Growth Market listing in Stockholm of 4C Group, a leading global provider of organisational readiness and training management solutions for customers in the defense, public and corporate sector.

Representation of Nordea and SEB as joint global coordinators and joint bookrunners on the SEK 500 million IPO and Nasdaq First North Growth Market listing of Pagero Group.

Representation of Norva24 Group AB (publ), a leader in the Northern European underground infrastructure maintenance industry, on its SEK 6.9 billion IPO on Nasdaq Stockholm.

Representation of Momentum Software Group AB (publ), a SaaS company that offers cloud-based property systems to Swedish property owners and managers, on its IPO on Nasdaq First North Growth Market.

Representation of the underwriting syndicate led by Goldman Sachs and SEB on the SEK 20 billion IPO and listing on Nasdaq Stockholm of Volvo Cars.

Representation of Carnegie Investment Bank, Goldman Sachs and J.P. Morgan as joint global coordinators, and BNP PARIBAS, Danske Bank, DNB Markets, Nordea, SEB and Swedbank as joint bookrunners, on the SEK 13.4 billion IPO and listing on Nasdaq Stockholm of Storskogen Group AB, a group that acquires and operates well-managed and profitable small and medium-sized companies in Nordics and Europe.

Representation of Cary Group, a leading vehicle glass repair and replacement provider offering sustainable car care solutions in Sweden, Denmark, Norway, UK and Spain and a portfolio company of Nordic Capital, on the launch of its IPO on Nasdaq Stockholm.

Representation of Gaming Innovation Group, a cloud-based online gaming platform incorporated in Delaware and listed on the Oslo Stock Exchange, on the dual listing of the company's shares on Nasdaq Stockholm.

Representation of Arion Banki, a leading universal relationship bank in Iceland, and Kaupthing, an Icelandic bank, on the IPO and dual-listing in Stockholm and Reykjavik of Arion Bank.

Representation of Projektengagemang, a Swedish technical engineering consultancy, and its founders on the IPO and Nasdaq Stockholm listing of Projektengagemang.

Representation of Handicare, a leading manufacturer of solutions and medical equipment for disabled and elderly people, and its principal shareholder Nordic Capital, a leading private equity firm, on the IPO and Nasdaq Stockholm listing of Handicare.

Representation of Carnegie, Danske Bank and Berenberg, all financial services institutions, as underwriters on the SEK 1.6 billion IPO and Nasdaq Stockholm listing of Boozt, a leading on-line retailer.

Representation of Carnegie, Goldman Sachs, Danske Bank, Jefferies, Nordea and Swedbank, all financial services institutions, as underwriters on the SEK 4.039 billion IPO and Nasdaq Stockholm listing of Munters, an energy efficient ait treatment manufacturer with over 50 years of experience.

Representation of SEB and Carnegie, both financial services institutions, as underwriters on the SEK 968 million IPO and Nasdaq Stockholm listing of Instalco, a group of highly-specialized installers active in the construction sector.

Representation of SEB, Carnegie and DNB, all financial services institutions, as underwriters on the SEK 968 million IPO and Nasdaq Stockholm listing of Actic Group, a chain of wellness centers, primarily based in Sweden.

Representation of ABG Sundal Collier, Carnegie and DNB, all financial services institutions, as underwriters on the SEK 650 million IPO and Nasdaq Stockholm listing of Oncopeptides, a research and development stage pharmaceutical company developing drugs for treat of cancer.

Representation of Carnegie, Nordea, SEB and DNB, all financial services institutions as underwriters on the SEK 1.100 billion IPO and Nasdaq Stockholm listing of Academedia, an education provider with an offering spanning from pre-school to adult education across Sweden, Norway and Germany.

Representation of Scandinavian Tobacco Group, a manufacturer of cigars and traditional pipe tobacco, on its IPO and Nasdaq Copenhagen listing.

Representation of Morgan Stanley, Deutsche Bank, Nordea and SEB, all financial services institutions, as underwriters in connection the SEK 3.245 billion IPO and Nasdaq Stockholm listing of Bravida, a leading servicing and installation company in Nordics.

Representation of J.P. Morgan, SEB, Deutsche Bank and Carnegie, all financial services institutions, as underwriters on the SEK 2.560 billion IPO and Nasdaq Stockholm listing of Capio, a company offering medical, surgical and psychiatric healthcare services through its hospital, specialist clinics and primary care in Europe.

Representation of Nordax and principal owner Vision Capital, an international investment group, on the IPO and Nasdaq Stockholm of Nordax, a leading specialist bank in Northern Europe.

Representation of Citigroup, SEB and Carnegie, all financial services institutions, as underwriters on the IPO and Nasdaq Stockholm listing of Alimak Group, a world-leading provider of vertical access solution for professional use.

Representation of Nordea, UBS, DNB and SEB, all financial services institutions, as underwriters on the SEK 2.550 billion IPO and Nasdaq Stockholm listing of Coor Service Management, a leading provider of facility management services in the Nordics.

Representation of Carnegie and Handelsbanken, both financial services institutions, as underwriters on the SEK 813 million IPO and Nasdaq Stockholm listing of Troax, a developer and manufacturer of innovative steel mesh panel solutions.

Representation of Handelsbanken, Carnegie and SEB, all financial services institutions, as underwriters on the SEK 2.946 billion IPO and Nasdaq Stockholm listing of Inwido, Europe's largest windows group.

Representation of Sanitec, a leading producer of bathroom ceramic in Europe, and principal owner EQT, a leading global investment firm, on the SEK 3.660 billion IPO and Nasdaq Stockholm listing of Sanitec.

Representation of Candyking, the market-leading European Pick & Mix solutions provider, and principal owners Accent and EQT, a leading global investment firm, on its IPO and Nasdaq Stockholm listing of Candyking (transaction withdrawn on pricing).

Representation of Byggmax, a discount provider of building materials and principal owner Altor, a private equity firm focused on investing in and developing medium sized companies, on the IPO and Nasdaq Stockholm listing of Byggmax.

Representation of O2 Vind, a renewable energy company, on its Nasdaq Stockholm listing (transaction withdrawn on pricing) and the subsequent divestment of the company's power production division and simultaneous acquisition of the remaining minority interest in O2 Vind's wind power development business.

ECM/issuance

Representation of Goldman Sachs Bank Europe SE, Skandinaviska Enskilda Banken AB and BNP Paribas as joint global coordinators and joint bookrunners on Geely Sweden Holdings AB's, a global automotive group and subsidiary of Zhejiang Geely Holding Group, US$350 million sale of shares in Volvo Car AB (publ) (Volvo Cars).

Representation of Oatly, a leading producer of plant-based and dairy-free food products, on a US$430 million financing arrangement, consisting of a private placement of US$300 million 9.25 percent convertible senior PIK notes due 2028, a new US$130 million term loan B credit facility and a SEK2.1 billion amended sustainability-linked revolving credit facility.

Representation of Citigroup, SEB and Carnegie on the rights issue of SEK 9.583 billion of Securitas, a listed global provider of security services based in Sweden. 

Representation of Carnegie as sole global coordinator and joint bookrunner and Danske Bank, and SEB as joint bookrunners on the SEK 1 billion directed share issue by BHG Group, a leading consumer e-commerce company listed in the Nordics, with significant presence in the rest of Europe.

Representation of joint global coordinators and joint bookrunners on the directed share issue of SEK 506 million by Sdiptech, a technology company listed on Nasdaq Stockholm which acquires and develops market-leading niche operations that contribute to creating more sustainable, efficient and safe societies.

Representation of joint bookrunners on the SEK148 million rights issue of class B shares in Biovica, a biotechnology company listed on Nasdaq First North Premier Growth Market which develops and commercializes blood-based biomarker assays that help oncologists monitor cancer progression.

Representation of Pierce Group, a leading european e-commerce company listed on Nasdaq Stockholm, on its SEK 347 million rights issue.

Representation of Karo Pharma, a prescription pharmaceuticals and over-the-counter products company listed on Nasdaq First North and majorly owned by global investment organisation EQT, on its fully underwritten SEK 2.5 billion (approximately US$260 million) rights issue. The rights issue will repay a bridge loan facility related to Karo Pharma's acquisition of Sylphar and other acquisitions.

Representation of Handelsbanken, a Swedish bank, on the update of its US$20 billion US medium term note (MTN) program and subsequent takedown of US$1,250,000,000 0.625% Senior Preferred Notes due 2023.

Representation of the investment banks ABG Sundal Collier AB and Carnegie on the directed share issue of approximately SEK 270 million by Q-linea AB, an infection diagnostics company. The board of directors of Q-linea AB resolved on a directed share issue of 4,000,000 shares at a subscription price of SEK 67.50 per share, raising gross proceeds of approximately SEK 270 million. The subscription price was determined through an accelerated book building.

Representation of DNB, Swedbank and Crédit Agricole, all financial services institutions, as placement agents on the private placement of shares in Recipharm, a leading pharmaceutical contract development and manufacturing organisation.

Representation of Evercore, a global independent investment bank advisory firm, RBC, a multinational financial services company and SEB, a Swedish financial group, as the underwriters on Hansa Medical's, a biopharmaceutical company, directed issue.

Representation of Nordea, a financial services group, as the underwriter on the SEK 3.0 billion rights issue by Tele2, a telecommunications operator.

Representation of EQT, a leading global investment firm, and Munksjö, a leading international specialty paper company, on the SEK 420 million accelerated book-built private placement of shares in Munksjö by EQT and the related secondary listing of Munksjö on Nasdaq Stockholm.

Representation of Rezidor Hotel Group, a leading international hotel management company, on its €60m rights issue of ordinary shares.

Representation of J.P. Morgan, Nordea, SEB, DnB and RBS, all financial services institutions, as underwriters on the SEK 5 billion rights offering by SAS, a Scandinavian airline company.

Representation of J. P. Morgan, a financial services firm, as manager on the SEK 1.6 billion convertible bond offering by SAS, a Scandinavian airline company.

Representation of Bank of America Merrill Lynch and Credit Suisse, both financial services institutions, as underwriters on the SEK 15 billion rights offering by Swedbank.

Representation of J. P. Morgan, Nordea, SEB, Danske Bank and DNB, all financial services institutions, as underwriters on the SEK 6 billion rights offering by SAS, a Scandinavian airline company.

Representation of Bank of America Merrill Lynch and J.P. Morgan, both financial services institutions, and as underwriters on the SEK 12 billion rights offering by Swedbank.

Public M&A and others

Representation of EQT and Karo Intressenter on the SEK 16.4 billion (approximately US$1.6 billion) public cash offer to the shareholders of Karo Pharma to acquire the shares in Karo Pharma not already owned by Karo Intressenter.

Representation of Cary Group, a leading listed vehicle glass service provider offering sustainable car care solutions in Sweden, on the SEK 9.2 billion public cash offer by CVC Funds and Nordic Capital, through their jointly owned company Teniralc BidCo.

Representation of Momentum Software, a Swedish software as a service (SaaS) company, on the takeover by Aaeron, a Germany-based enterprise resource planning (ERP) software and digital solutions provider for the European property industry. Aaeron has acquired 93 percent of the outstanding shares in Momentum Software at a valuation of approximately SEK 1.8 billion. Momentum Software is listed on Nasdaq First North Growth Market-listed.

Representation of Klarna, a leading global retail bank, payments and shopping service, on its acquisition of Piggy, a discount apps and browser extensions provider.

Representation of Pagero Group AB (publ), a listed software as a service (SaaS) company, on its recommended competing cash offer to acquire Tungsten Corporation plc, a listed global electronic invoicing and purchase order transactions network provider.

Representation of Karo Pharma, a consumer healthcare company listed on Nasdaq Stockholm, on the acquisition of Sylphar, which focuses on developing and marketing over-the-counter consumer friendly products, for €300 million from private equity firm Vendis Capital and Robin List, Sylphar's founder.

Representation of IK Small Cap II Fund, a fund advised by European private equity firm IK Partners, on its divestment of BST Brandskyddsteamet, a market leading full-service provider of active fire protection services in Sweden, to Norvestor.

Representation of Ratos, a Swedish private equity firm, and Bonnier, the holding company for a corporate group made up of the Nordic region's leading media companies, on their divestment of Bisnode, a company offering support in the form of digital business, marketing and credit information, to Bisnode's partner Dun & Bradstreet for an approximate enterprise value of SEK 7.2 billion.

Representation of European Entertainment Intressenter BidCo AB (EE Intressenter), a privately held investment company, on the public cash offer to the shareholders in Cherry AB, one of Scandinavia's oldest gaming companies, to acquire all Cherry shares at a price of SEK 87 per share.

Representation of EQT, a leading global investment firm, on the public cash offer to the shareholders of Karo Pharma, a company that specializes in the sale and marketing of prescription pharmaceutical and over-the-counter products.

Representation of Nomura, a global financial services firm, on Zhejiang Geely's acquisition of Cevian Capital's entire shareholding in Volvo, the leading manufacturer of trucks and the largest listed company in Sweden.

Representation of EQT, a leading global investment firm, on Geberit's, a Swiss multinational group in the field of sanitary products, public tender offer for Sanitec, a leading producer of bathroom ceramics in Europe.

Representation of Munksjö, a leading international specialty paper company and principal owner EQT, a leading global investment firm, on the business combination of Munksjö with the Label & Processing division of Finnish listed company Ahlstrom, creating a globally leading specialty paper company listed on Nasdaq Helsinki.

Representation of Leaf and its owners Nordic Capital and CVC, both investment firms, on the merger between confectionary companies Leaf and Cloetta.

Representation of Kamic, a privately held corporate group with the aim of being a leading supplier of technical products and services, in its SEK 215 million public tender offer for ElektronikGruppen, a supplier of electronic component systems and production equipment for the electronic industry.

Representation of Schulthess, a heating, cooling and washing technology provider, in the CHF 638 million mixed consideration public tender offer by Nasdaq listed NIBE, a manufacturer of energy-efficient and sustainable domestic heating products.