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Sitowise’s Initial Public Offering 15 March – 23 March 2021
Sitowise, a Nordic expert in the built environment with a strong focus on digitality, is planning a listing on the official list of Nasdaq Helsinki. Sitowise has over 1,900 experts from different fields, who thrive to develop more sustainable and smart living environments. In recent years Sitowise has had a rapid and profitable growth trajectory and is currently operating in Finland, Sweden, Estonia and Latvia. The objective of the contemplated offering is to support the implementation of Sitowise’s growth strategy.
The subscription period for the Public Offering commenced on 15 March 2021 at 10:00 a.m. (Finnish time). The subscription price of the Offering was EUR 8.20 per share. Public offering and personnel offering of Sitowise were oversubscribed and the subscription periods ended on 22 March 2021 at 4:00 p.m. (Finnish time). The institutional offering was oversubscribed and the subscription period ended on 24 March at 11:00 a.m. (Finnish time).
Please review the terms and conditions of the Initial Public Offering and the Offering circular available on this website before making an investment decision.
| 15 March 2021 at 10:00 a.m. (Finnish time) | Subscription periods for the Public Offering, the Personnel Offering and the Institutional Offering commence |
| 22 March 2021 at 4:00 p.m. (Finnish time) | The Public Offering, the Personnel Offering and the Institutional Offering may be ended at the earliest |
| 23 March 2021 at 4:00 p.m. (Finnish time) (estimate) | Subscription period for the Public Offering and the Personnel Offering ends |
| 25 March 2021 at 12:00 noon (Finnish time) (estimate) | Subscription period for the Institutional Offering ends |
| 25 March 2021 (estimate) | Results of the Offering |
| 26 March 2021 (estimate) | The Shares subscribed for in the Public Offering will be recorded in the book-entry accounts of investors |
| 26 March 2021 (estimate) | Trading in the Shares on the prelist of the Nasdaq Helsinki is expected to commence (excluding the Shares subscribed for in the Personnel Offering) |
| 30 March 2021 (estimate) | The Shares subscribed for in the Institutional Offering are ready to be delivered against payment through Euroclear Finland Oy |
| 30 March 2021 (estimate) | Trading in the Shares on the official list of the Nasdaq Helsinki is expected to commence (excluding the Shares subscribed for in the Personnel Offering) |
| 15 April 2021 (estimate) | The Shares subscribed for in the Personnel Offering will be recorded in the book-entry accounts of subscribers’ |
| 15 April 2021 (estimate) | Trading in the Shares subscribed for in the Personnel Offering on the official list of the Nasdaq Helsinki is expected to commence |
We believe that planning sustainable and smart living environments is an industry of the future. Now you can invest in it.
Sitowise's growth story began in 2017, when two strong experts in the built environment joined forces. Finland's third largest technical consulting company was born, with roots dating back to the 1970s. In recent years, we have grown rapidly and profitably in Finland and Sweden, both organically and through many acquisitions.
We are working at the core of major changes that are driving the world, such as urbanisation, digitalisation and climate issues.
In Finland alone, the built environment, including transport, accounts for 60 per cent of energy use and 55 per cent of emissions. At the same time, this is both a great responsibility and a huge opportunity to make an impact.
Our goal is to be the most sustainable and responsible partner in the industry, which means that we understand our customers' responsibility goals and help them achieve them with our own work. In concrete terms, this can mean achieving the carbon neutrality targets of cities or significantly improving the energy efficiency of a housing cooperative. We make sure that all our operations are responsible, our customer projects are where we make the biggest impact: by reducing emissions, increasing energy efficiency, planning smooth and low-emission travelling or increasing the opportunities for municipal residents to interact – always leading with knowledge.
To serve our customers extensively in their diverse and evolving needs, we have determinedly increased our competencies and digital expertise through acquisitions. At the same time, we have provided the experts joining Sitowise with opportunities to grow and develop as part of a larger organisation, respecting their strong expertise.
I am especially proud of Sitowise’s top-level professionals: our engineers, developers, and other experts of a sustainable future, who work together boldly and open-mindedly to develop solutions. Our promise to them as an employer is that we offer a job with a significant societal impact. This, if anything, is an industry of the future providing an opportunity to make a difference.
Our goal is to continue sustainable growth both organically and through acquisitions. We aim to achieve this by developing the profitability and efficiency of our operations, utilising smart solutions and digital know-how, strengthening our competencies and systematically mapping M&A targets. In addition to Finland and Sweden, we see growth opportunities also in other Nordic countries.
The market for technical consulting has grown steadily and has shown resilience in the midst of fluctuations in the operating environment, such as the economic crisis and the coronavirus pandemic.
In the long term, we aim for an annual net sales growth of over 10 per cent, including acquisitions, and an adjusted EBITA margin of at least 12 per cent in terms of profitability.
The objective of the initial public offering is to support our strategic goals and strengthen Sitowise's recognition and attractiveness as both a service provider and an employer.
Now is the time to enter Sitowise's next development phase. At the same time, we are very happy and proud to be able to offer an attractive domestic and responsible investment opportunity for investors.
