Sitowise listed on the Helsinki Stock Exchange
Sitowise, a Nordic expert in the built environment with a strong focus on digitality, was successfully listed on the Nasdaq Helsinki Stock Exchange. Over the past five years, Intera has taken part in building Sitowise and its strong growth. Intera will remain as a major shareholder in the company after the listing. In the offering, Sitowise gained more than 9,000 new shareholders, including a wide group of major international and domestic institutions as well as more than 800 employee shareholders.
Sitowise was born in 2017 under Intera’s leadership. The company has grown in Finland and Sweden through active and successful recruitment and acquisitions that have brought in the best entrepreneurs and talents in the industry. Every day, Sitowise’s more than 1,900 experts from different fields join forces to ensure that transport, infrastructure and different buildings could offer the best possible settings for safe and carefree daily life. Sitowise wants to raise the bar for intelligence and responsibility, and it has set a vision to be the most responsible partner in developing a prosperous living environment.
In the offering, Sitowise raised gross proceeds of approximately EUR 75 million and, in addition, Intera and certain other shareholders sold shares worth approximately EUR 86 million at a market capitalization of approximately EUR 288 million. Sitowise’s owners now include significant Finnish and international institutions such as Ilmarinen, EVLI, Lannebo Fonder, Didner & Gerge, Capital World Investors and Paradigm Capital. The share offering received widespread international interest and was oversubscribed. After the listing, more than half of Sitowise’s employees are also the company’s shareholders.
“This successful IPO is an important milestone for Sitowise in implementing a joint value creation strategy. Majority of Sitowise employees have committed to the company through ownership, which is a sign of a strong partnership culture in the company,” comments Tomi Terho, Intera’s partner, who will continue as a board member of Sitowise after the listing.