Rikard Stenberg

Partner, Stockholm

Biography

Rikard Stenberg is held in high esteem for his prowess in handling large IPOs and dual listings as well as share issuances, where he advises prominent domestic and international banks as bookrunners and coordinators. Client says “his vast experience combined with down-to-the detail focus makes him best positioned to advise us on ECM deals." One client highlights that he is “very experienced and has a good perspective on different markets,” adding: “he is a good sounding board for regulatory aspects.”
Chambers, IFLR 1000

Overview

Rikard Stenberg is a partner in the firm's Capital Markets practice in Stockholm and focuses on capital markets and public M&A. In capital markets, Rikard has advised issuers, owners as well as underwriters in a variety of transactions including IPOs, spin-offs, rights offerings and convertible bonds offerings. He has extensive experiences of advising sponsors and their portfolio companies in connection with dual and triple track exit processes. 

Rikard's public M&A experience includes a wide range of domestic and cross border buy-outs, merger of equals and reversed takeovers, and he has represented both sponsors and strategic buyers. In addition, Rikard regularly counsels Swedish listed companies on corporate governance and long term variable remuneration programs.

Bars and Courts
Sweden, Advokat
Education
LLM
Juris kandidat
Stockholm University
Languages
Swedish
English

Experience

Representative transactions include:

IPO/listing

Representation of DNB Markets and SEB as joint global coordinators, and Danske Bank, Nordea and Swedbank as joint bookrunners, on the SEK 3.5 billion IPO and listing on Nasdaq First North Premier Growth Market of Sveafastigheter, a Sweden-based residential real estate company.

Representation of DNB Markets, Inc. as the sole global coordinator, joint bookrunner and representative of the underwriters on the US$44.8 million initial public offering of 7,720,000 common shares by Himalaya Shipping Ltd, an independent dry bulk carrier company. Following the IPO, the company's common shares are dual-listed on the New York Stock Exchange and Euronext Expand in Norway under the ticker "HSHP".

Representation of Nordea as sole global coordinator and joint bookrunner, and Carnegie as joint bookrunner, on the SEK 1.82 billion IPO and Nasdaq Stockholm listing of engcon AB, a leading manufacturer of tiltrotators.

Representation of the Carnegie Investment Bank, Jefferies, Barclays, Danske Bank and DNB Markets as global coordinators and bookrunners on the SEK 5.561 billion (US$647 million) IPO and Nasdaq Stockholm listing of Byggfakta Group, a leading software and IT company in the construction industry in Sweden.

Representation of Nordea and Pareto Securities AB on the IPO and Nasdaq First North Premier Growth Market listing of Re:NewCell AB, one of the very first companies offering a dissolving pulp for textile production manufactured from solely recycled textiles.

Representation of Nordea and Swedbank as joint global coordinators and joint bookrunners on the IPO and Nasdaq First North Premier Growth Market listing of Offentliga Hus i Norden AB, a growth-oriented property company that owns, manages and develops community service properties in Sweden.

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

Representation of Ovzon, a broadband telecommunication company offering mobile communication services via satellite, and its founders on the IPO and Nasdaq Stockholm First North listing of Ovzon.

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 investor, on the IPO and Nasdaq Stockholm listing of Handicare.

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

Representation of Carnegie, Nordea and Danske Bank, all financial services institutions, as underwriters on IPO and Nasdaq Stockholm listing of Ambea, a provider of care services in Sweden within the areas of disabled care, individual and family care and nursing homes.

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

Representation of Morgan Stanley, Nordea, Deutsche Bank and SEB, all financial services institutions, as underwrites on Bravida's, a leading independent supplier of building installation services, SEK 3.2 billion IPO and NASDAQ Stockholm listing and US and international offering of ordinary shares pursuant to 144A and Reg S by Bain Capital, a private investment firm.

Representation of J.P. Morgan, SEB, Deutsch Bank and Carnegie, all financial services institutions, as underwrites on Capio's, one of Europe's leading healthcare companies, SEK 2.7 billion million IPO and NASDAQ Stockholm listing and US and international offering of ordinary shares pursuant to 144A and Reg S by the company and the owners, Nordic Capital and Apax, both leading private equity investment firms.

Representation of Citi and SEB, both financial services institutions, as underwrites on Alimak Group's, a provider of vertical access solutions for professional use, SEK 2.5 billion IPO and NASDAQ Stockholm listing and US and international offering of ordinary shares pursuant to 144A and Reg S by Triton.

Representation of UBS, Nordea and Carnegie, all financial services institutions, as underwrites on Coor Service Management's, a provider of facility management services, SEK 2.5 billion IPO and NASDAQ Stockholm listing and US and international offering of ordinary shares pursuant to 144A and Reg S by the company and Bain Capital, a private investment firm.

Representation of Carnegie and Handelsbanken, both financial services institutions, as underwriters on Troax's, a provider of machine guarding, SEK 813 million IPO and NASDAQ Stockholm listing and offering of shares by FSN Capital, a private equity investment firm.

Representation of Handelsbanken, Carnegie and SEB, all financial services institutions as underwriters on Inwido's, a wood window and door manufacturing company, SEK 2,946 million IPO and NASDAQ Stockholm listing and U.S and international offering of ordinary shares pursuant to 144A and Reg S by Ratos, the principal shareholder of the company.

Representation of Sanitec, the leading pan-European multi-brand bathroom ceramics specialist, and its principal owner EQT, a leading global investment firm, on the company's SEK 3,660 million IPO and NASDAQ OMX listing and U.S. and international offering of ordinary shares pursuant to 144A and Reg. S.

Representation of Byggmax, a Nordic DIY building materials retailer, and its principal owner Altor 2003 Fund, a fund in the family of Altor-branded private equity funds focused on investing in and developing medium sized companies, on the company's SEK 1.2 billion IPO and NASDAQ OMX listing and U.S. and international offering of ordinary shares pursuant to 144A and Reg. S.

Other ECM/issuance

Representation of Bryan, Garnier & Co as sole global coordinator and, together with Handelsbanken Capital Markets, as joint bookrunners on the SEK 300 million directed share issue by Egetis Therapeutics AB (publ), a pharmaceutical company focusing on projects in late-stage development for commercialization for treatments of serious diseases with significant unmet medical needs in the orphan drug segment listed on the Nasdaq Stockholm main market.

Representation of SEB and Nordea on the SEK 1.125 billion directed share issue by Vitec Software Group, a leading vertical software provider listed on Nasdaq Stockholm.

Representation of a bank syndicate on listed Nordic real estate company Castellum Aktiebolag's (Castellum) SEK 10.18 billion fully underwritten rights issue. Listed on Nasdaq Stockholm Large Cap, Castellum is one of the largest listed real estate companies in the Nordics, developing flexible workplaces and smart logistics solutions.

Representation of Citi, Handelsbanken and Nordea, as underwriters, joint global coordinators and joint bookrunners, on the SEK 13.95 billion (approximately US$ 1.33 billion) underwritten rights issue in Beijer Ref, one of the largest refrigeration wholesalers in the world.

Representation of William Blair & Company L.L.C. and Van Lanschot Kempen N.V. on the directed share issue of approximately SEK 416 million (US$40 million) by Hansa Biopharma, a Swedish biopharmaceutical company.

Representation of joint bookrunners on the SEK 1.106 billion and SEK 546 million directed share issues by Oncopeptides, a biotech company based in Sweden.

Representation of Nordea Bank and SEB on the directed share issues of SEK 920 million and SEK 834 million by Vitec Software Group, a market leader for Vertical Market Software in the Nordic region, developing and delivering standard niche software.

Representation of SEB and Nordea on the SEK 3.35 billion directed share issue of Dometic Group, a global market leader in branded leisure and professional mobile living solutions headquartered in Sweden.

Representation of DNB, Nordea and Swedbank as Joint Global Coordinators on the SEK 2 billion rights issue of Stillfront Group, a global group of gaming studios and a market leader in the free-to-play online strategy games genre headquartered in Sweden.

Representation of Jefferies, ABG, Carnegie and DNB, all financial services institutions, as placement agents on the private placement of shares in Oncopeptides, a research and development stage pharmaceutical company developing drugs for treatment of cancer.

Representation of Evercore, a global independent investment banking advisory firm, RBC and SEB, both financial services institutions, as the underwriters on Hansa Medical's, a biopharmaceutical company developing novel immunomodulatory enzymes for transplantation and acute autoimmune diseases, directed issue.

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.

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

Representation of J.P. Morgan, Nordea, Skandinaviska Enskilda Banken, DnB NOR and RBS, all financial services institutions, as the underwriters of airline carrier SAS' SEK 5 billion rights issue of ordinary shares.

Representation of J.P. Morgan, a financial services firm, as manager of airline carrier SAS, a Scandinavian airline, SEK 1.6 billion convertible bond issuance.

Representation of Bank of America Merrill Lynch and Credit Suisse, both financial services firms as the underwriters of Swedbank's, a Nordic-Baltic banking group, SEK 15 billion rights issue of ordinary shares.

Public M&A

Representation of EQT, a leading global investment firm, on:

  • the dual track exit of Piab, a Sweden-based vacuum pump developer, resulting on the sale to Investor AB (publ) (Patricia Industries), a Swedish investment firm, for an enterprise value of SEK 7.0 bn.
  • the public cash offer to the shareholders of Karo Pharma, a company that specializes on the sale and marketing of prescription pharmaceuticals and over-the-counter products.
  • its capacity as principal shareholder of Sanitec, a leading producer of hygiene products, on the SEK 9.7 billion offer by Geberit Aktiengesellschaft, for all of the shares in Sanitec.

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 Munksjö, a leading paper producer and its 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 OMX with EUR 1.3 billion in net sales.

Representation of Kamic, a corporate group active in trade and manufacturing, on its successful SEK 215 million tender offer for ElektronikGruppen, a Nordic supplier of components and systems for the electronics industry.

Representation of Schulthess, the SIX Swiss Exchange listed heating, cooling and washing technology provider, on the CHF 638 million mixed consideration offer for the company by NASDAQ OMX listed NIBE, the pan-European heat pump manufacturer.

Representation of California based NASDAQ listed Powerwave Technologies, a global telecommunications corporation, on its successful strategic combination with and SEK 3 billion exchange offer for NASDAQ OMX listed LGP Allgon, the radio and mobile communications solutions supplier, as well as the secondary listing of Powerwave Technologies on NASDAQ OMX.

Representation of NASDAQ OMX listed LGP on its successful strategic combination with and SEK 760 million exchange offer for NASDAQ OMX listed Allgon, a leading company within the area of industrial remote control.

Representation of Avesta Sheffield, a manufacturer of stainless steel products, in Finnish Outokumpo Steel's, a global stainless steel manufacturer, SEK 19 billion strategic combination with and exchange offer for Avesta Sheffield, a manufacturer of stainless steel products.

Representation of AP Fastigheters, the jointly owned real estate arm of the first, second third and fourth Swedish National Pension Funds (AP1-4), successful SEK 1.8 billion tender offer for NASDAQ OMX listed Anders Diös, a property company.

Representation of Sands Petroleum on its successful exchange offer for IPC, the Canada incorporated upstream oil and gas company.

Representation of Procuritas Capital Partners II, a private equity firm, on its successful tender offer for BPA, the NASDAQ OMX listed technical installation service provider.

Awards and Recognition

Capital Markets: Equity, Chambers Europe/Global, 2019, 2020-2023

Capital Markets, Leading Individual, The Legal 500, 2019-2023