Research note


Verisec: Directed new share issue for future growth

Verisec announced on Tuesday that the company will conduct a directed new issue of approximately SEK 40 million (before transaction costs). The issue secures the next step in the establishment and commercialization of Freja eID.

The price has been set at SEK 120 per share, distributed into 335,500 shares, giving a dilution effect of ~7 percent. The issue does not give a big net effect on the valuation as the new cash position mitigates the dilution.

Among the participants in the issue one finds a number of Swedish institutional investors, including Handelsbanken Fonder, Svolder, Merlinum and Swedbank Robur. Having more funds as shareholders, are most often beneficial as it ads both credibility and stability to the share price. The strengthened cash position will first and foremost ensure intensified investments in future growth for Freja eID, in combination with a number of strong institutional owners on board, Verisec has now taken the next step in the transformation into a platform company.


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