Morris Law has advised InfraCom Group AB (publ) on a share issue to the general public for which the subscription period ended on 20 June 2019.
InfraCom Group, whose shares are listed on the Spotlight Stock Market, is based in Gothenburg and specialised in cloud-based telephony, IT operations, and hosting. The company owns, operates, and develops IT infrastructure companies with a focus on maintaining high operating and data security. The services relate to cloud-based telephony, developed on the basis in a proprietary platform, login and control of websites, server and data management, as well as solutions for secure internet access.
As a result of the great interest from the public, the share issue was considerably oversubscribed, corresponding to approximately 183 per cent of the offered number of shares. in the rights issue. The share issue included 1,900,000 new shares and was fully subscribed. The subscription price was determined to SEK 10.76. The company will receive proceeds amounting to approximately SEK 20,4 million and about 1,900 new shareholders.
In connection to the share issue to the general public, Avanza Bank has acted as financial advisor and issuer agent to InfraCom Group.
For further information, please see InfraCom Groups press release here.
The Morris Law’s team consisted of Racine Ashjari, Gustav Thorslund and Anders Eriksson.