Assignments December 16, 2020

Cirio advises Scandinavian Biogas on private placement of SEK 586 million and listing of shares on Nasdaq First North Premier

Cirio has advised Scandinavian Biogas Fuels International AB (publ) in connection with a private placement of 9.3 million shares and listing of the company’s shares on Nasdaq First North Premier Growth Market in Stockholm.

The private placement, resolved by the board of directors on 14 December 2020 authorised by the EGM held on 23 November 2020, was conducted through a bookbuilding procedure resulting in the issuance of 9,333,334 new shares in the company at a price per share of SEK 37.50, raising gross proceeds of SEK 350 million. In connection with the private placement, selling shareholders offered in total 6,283,651 existing shares corresponding to SEK 236 million, resulting in a total offering of SEK 586 million.

Further, in connection with Scandinavian Biogas’ listing on Nasdaq First North Premier Growth Market a company description was published on 14 December 2020. Scandinavian Biogas is the first company to list dark green shares on Nasdaq Nordic. The company has received a 100 per cent “Dark Green Shading”, the highest possible rating from CICERO Shades of Green AS, on the company’s revenue streams and investments. The first day of trading on Nasdaq First North Premier Growth Market is today, 16 December 2020, under the ticker “BIOGAS”.

Scandinavian Biogas is a leading producer of biogas in the Nordics. The company sells renewable energy based on compressed biogas and liquid biogas. The company operates five production plants located in Henriksdal, Södertörn, Bromma (Sweden), Skogn (Norway) and Ulsan City (South Korea). Through its operations, Scandinavian Biogas supports a sustainable transition from fossil to renewable energy by turning locally sourced organic waste into renewable energy in the form of biogas and bio-fertiliser, whilst adding zero net emissions to the atmosphere.

Cirio advised Scandinavian Biogas with a team headed by Maria Arnoldsson (Capital Markets and Public M&A) and Jörgen Möller (Head of Energy), together with Tim Johansson, Jesper M. Johansson, Philip Tonkin, Jessica Grönberg and Alexandra Linusson.

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