Nordic Capital sells €81m Tokmanni share block

The accelerated bookbuilding process run by Carnegie and Nordea saw the GP dispose of 9 million shares at 900 cents apiece, equivalent to 15.29% of all shares and votes in the business.

The share price represents a premium on the 670-cent price Tokmanni listed at in May 2016, and an increase on the 830 cents Nordic Capital received for each share in its last partial exit – a €74.7m block sold in November 2016.

Following the sell-down, Nordic Capital entered into a lock-up period ending April 26 2017.

Nordic Capital Fund VII, which holds the GP's stake in Tokmanni, now owns around 8.9 million shares in the group.

Previous funding
Nordic Capital acquired 100% of the share capital in Tokmanni through an SBO from Finnish GP CapMan in May 2012.

CapMan first backed the company in November 2004, taking a 60.6% stake.

In May 2016, Nordic Capital listed Tokmanni in a Helsinki IPO that saw the group achieve a market cap of €394m and reaped €150m in proceeds for the GP. Six months after floating the company on Nasdaq OMX Helsinki, Nordic Capital sold a block of 9 million shares worth €74.7m.

Company
Founded in 2004, Tokmanni is a Finnish discount goods retailer.

Headquartered in Mäntsälä, the company generated €755m in revenues in 2015 and employs a staff of 3,200.

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• Topics
• Exits
• Consumer
• Nordics
• Nordic Capital
• Partial sale
• Finland