PE-backed Mercell prepares for IPO

The Norwegian company is awaiting necessary approvals from Oslo Stock Exchange, but plans to start trading on Merkur Market Stock Exchange from 9 July.

Unquote reported in 2018 that Viking acquired a 30% stake in Mercell for reportedly NOK 50-100m.

Mercell is planning to raise NOK 450m (€41m) in gross proceeds.  It said in a statement that certain existing shareholders will sell their shares for roughly NOK 400m.

The company has recently completed a private placement, where it raised NOK 850m from cornerstone investors Luxor Capital Group, DNB Asset Management, Robur, and TIN Fonder. 

Mercell will use the funds raised from the IPO to finance its growth, organically and through acquisitions. Earlier this year, it acquired a stake in Norwegian business Aksess Innkjøp and Danish rival True Link.

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