Cleary Gottlieb acted as international counsel to ABG Sundal Collier, Goldman Sachs International and Morgan Stanley as joint global coordinators and joint bookrunners, and Credit Suisse, DNB Markets and UBS Investment Bank as joint bookrunners, in the offering of shares of EVRY ASA.
The offering consisted of a public offering in Norway and an institutional offering outside Norway of approximately 33 percent of EVRY’s shares. EVRY issued new shares representing approximately 28 percent of the shares outstanding following their issue, and Lyngen Bidco AS, a company controlled by funds advised by Apax Partners LLP, sold shares representing approximately 5 percent (and up to 10 percent if the over-allotment option is exercised in full) of the shares outstanding following the issue of the new shares. The offering price of NOK 31 per share implies a market capitalization of EVRY of approximately NOK 11.5 billion ($1.4 billion). The offering closed on June 23, 2017.
EVRY is a leading provider of IT services and software in the Nordic region with a strong local presence throughout Norway and Sweden. The group has a large and stable portfolio of over 10,000 customers in the Nordic region, ranging from local and central governments to large global and regional corporate customers and small and medium-sized enterprises, as well as the 30 largest banks in Norway. The group makes use of an extensive presence in local markets, in-depth knowledge and longstanding customer relationships, and its global capabilities to help its customers achieve their digital transformations. The group, working with its leading global partners, offers customers a comprehensive portfolio of services and software designed to meet all of their needs, including advisory and consulting services, industry-specific software and the design, implementation and maintenance of customized solutions and IT operations.