Scandinavian Enviro Systems AB (“Enviro”) has carried out a primary issuance of shares of SEK 300 million where the subscription price was determined through an accelerated bookbuilding procedure. A number of new Swedish and international institutional investors participated in the share issue, including Cicero Fonder, Coeli Circulus, Handelsbanken Fonder, Skandia and Öhman Fonder.
Enviro contributes to enhanced environmental and economic sustainability using a patented technology for the recovery of valuable raw materials from scrapped and end-of-life products, including tires. Enviro has its head office in Gothenburg and a plant for the recycling of end-of-life tires in Åsensbruk, both in Sweden. The largest owner is the French tire manufacturer Michelin.
Pareto Securities acted as Sole Manager and Bookrunner. Baker McKenzie acted as legal advisor to Pareto Securities with a capital markets team consisting of Stefan Balazs, Joakim Falkner and Nanna Trulsson.
