FEBRUARY 19 2021
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA OR JAPAN OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR RELEASE WOULD BE UNLAWFUL. OTHER RESTRICTIONS ARE APPLICABLE. PLEASE SEE “IMPORTANT INFORMATION” AT THE END OF THE PRESS RELEASE.
This announcement is not an offer to sell or a solicitation of any offer to buy any securities of Cint Group AB (publ) ("Cint"). The information contained in this announcement is for background purposes only and does not purport to be full or complete. Any offering of the securities referred to in this announcement is only made by means of a prospectus prepared and published by Cint. Investors should not invest in any securities referred to in this announcement except on the basis of information contained in such prospectus. The prospectus is available at Cint's website, https://investors.cint.com/en/ipo.
Nordic Capital-backed Cint lists successfully on Nasdaq Stockholm
Nordic Capital[1] expands its outstanding tech and payments track record, with the highly successful IPO of Cint Group AB (publ) (“Cint”). Cint, a global software leader in digital insights gathering, today announced the outcome of the initial public offering of its shares on Nasdaq Stockholm. The offering was substantially over-subscribed, attracting very strong interest from large Swedish and international institutional investors as well as the general public in Sweden. The market capitalisation of Cint, based on the IPO price of SEK 72 per share, is approximately SEK 9.8 billion. For full information about Cint and the offering please see https://investors.cint.com/en/ipo
In 2016, Nordic Capital invested in Cint with the ambition of creating a global software leader in digital insights gathering. As a result of significant investment in the technology platform, substantial expansion of its operations in the US and a strategic acquisition, Cint has reached a market leading position. The Cint software automates the insights gathering process so that companies can gain access to high quality insight, faster and more cost effectively, with unparalleled scale. As a driving force of digitalisation of the insights industry, data protection and privacy are fundamental to Cint’s success as well as high priorities on Cint’s sustainability agenda. As a modern software company and employer, Cint is equally focused on employee health and wellbeing and creating a diverse workforce. Today Cint connects companies seeking insights with global consumer audiences, connected to its platform via hundreds of supply partners, and remunerates them for completing online surveys. As of December 31, 2020, Cint’s platform hosted over 144 million connected consumers across 134 countries. Cint has over 2,500 B2B customers spread across 72 countries, who use its software platform to gather consumer insights and accelerate business growth.
Daniel Berglund, Partner at Nordic Capital Advisors and board member of Cint, comments:
“Nordic Capital invests in companies with the potential to become best-in-class, and Cint has evolved from a technology innovator to an industry disruptor at the epicentre of the global insights industry. During Nordic Capital’s ownership, Cint has grown fourfold and made significant investment in its technology platform, expanded into new markets and strengthened its organisation. We are very proud of the past years’ intensive global growth journey, where the team at Cint supported by Nordic Capital has built a company that is stronger than ever before. The interest in Cint’s listing has demonstrated great trust in the company from both private savers and institutions. Nordic Capital looks forward to continuing to be an active owner of Cint and welcomes all new shareholders taking part in this exciting growth journey.”
Tom Buehlmann, CEO of Cint, comments:
“Cint’s listing on Nasdaq marks the start of a new chapter. Our commitment to the digital transformation of the insights sector has never been stronger. I am incredibly proud of our achievements so far. More importantly, we at Cint, are only just getting started; the best is yet to come.”
Niklas Savander, Chairman of the board of Cint, comments:
“The company has had various stages of growth. But the growth it managed to achieve in the last five-year period has been nothing but remarkable. For me it has been a great pleasure to work with Cint's management team and our owners in bringing the company this far on its growth journey. I am looking forward to welcoming our new shareholders as they join us to march on for an even more exciting future.”
Technology and Payments is one of Nordic Capital’s focus sectors where it has extensive experience, a strong and active sector network, and a dedicated team with local presence across Northern Europe. As one of Europe’s leading tech investors, Nordic Capital has invested EUR 3.5 bn in 18 tech and payment companies since 2004. It has achieved repeatable success and developed thriving companies as evidenced by the performance of investments such as Bambora, Trustly, Siteimprove, Signicat and the most recent investment in Regtech in 2020.
[1] The shares are owned and were offered by Cidron Ross S.à r.l. (“Cidron”), a company indirectly owned by Nordic Capital VIII Alpha, L.P. and Nordic Capital VIII Beta, L.P. (acting through their general partner Nordic Capital VIII Limited) (“Nordic Capital Fund VIII”). References to ”Nordic Capital” in this press release refers to Nordic Capital Fund VIII, all, or some, of its predecessor or successor funds and vehicles and associated entities and/or, as required by the context, Cidron as a selling shareholder. For further information see ”About Nordic Capital”.
Press contacts
Nordic Capital
Katarina Janerud, Communications Manager
Nordic Capital Advisors
Tel: +46 8 440 50 50
e-mail: katarina.janerud@nordiccapital.com
About Nordic Capital
Nordic Capital is a leading private equity investor with a resolute commitment to creating stronger, sustainable businesses through operational improvement and transformative growth. Nordic Capital focuses on selected regions and sectors where it has deep experience and a long history. Focus sectors are Healthcare, Technology & Payments, Financial Services, and selectively, Industrial & Business Services. Key regions are Europe and globally for Healthcare and Technology & Payments investments. Since inception in 1989, Nordic Capital has invested more than EUR 16 billion in over 110 investments. The most recent fund is Nordic Capital Fund X with EUR 6.1 billion in committed capital, principally provided by international institutional investors such as pension funds. Nordic Capital Advisors have local offices in Sweden, Denmark, Finland, Norway, Germany, the UK and the US. For further information about Nordic Capital, please visit www.nordiccapital.com
Important information
This announcement is not an offer to sell or a solicitation of any offer to buy any securities of Cint Group AB (publ) (the “Company”). The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness.
Copies of this announcement are not being made and may not be distributed or sent into the United States, Australia, Canada, Japan or any other jurisdiction in which such distribution would be unlawful or would require registration or other measures.
Any offering of the securities referred to in this announcement is only made by means of a prospectus. This announcement is not a prospectus for the purposes of Regulation (EU) 2017/1129 of the European Parliament and of the Council of 14 June 2017 on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing Directive 2003/71/EC (together with any related implementing and delegated regulations, the “Prospectus Regulation”). A Swedish language prospectus has been prepared by the Company and approved by the Swedish Financial Supervisory Authority in accordance with the Prospectus Regulation and is available at the Company's website. The Swedish Financial Supervisory Authority only approves the prospectus as meeting the standards of completeness, comprehensibility and consistency imposed by the Prospectus Regulation. The approval should not be considered as an endorsement of the Company or as an endorsement of the quality of the securities that are the subject of the prospectus and does not indicate that the Swedish Financial Supervisory Authority guarantees that the facts in the prospectus are correct or complete. Investors should not invest in any securities referred to in this announcement except on the basis of information contained in the aforementioned prospectus.
In any EEA Member State other than Sweden (each, a “Relevant State”) this communication is only addressed to and is only directed at qualified investors in that Relevant State within the meaning of the Prospectus Regulation, i.e., only to investors who can receive the offer without an approved prospectus in such Relevant State. The securities referred to in this announcement have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), and accordingly may not be offered or sold in the United States absent registration or an exemption from the registration requirements of the Securities Act and in accordance with applicable U.S. state securities laws. The Company does not intend to register any offering in the United States or to conduct a public offering of securities in the United States.
Copies of this announcement are not being, and should not be, distributed in or sent into the United States. The securities described herein have also not been and will not be registered under the applicable securities laws of Australia, Canada or Japan and, subject to certain exemptions, may not be offered or sold in or into or for the account or benefit of any person having a registered address in, or located or resident in Australia, Canada or Japan. There will be no public offering of the securities described herein in Australia, Canada or Japan.
In the United Kingdom, the information in this press release is for distribution only to persons who are “qualified investors” within the meaning of the Prospectus Regulation as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018 This communication and any materials in relation to the securities described herein are only being distributed to and is only directed at persons in the United Kingdom that (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Order”) ; (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000 (“FSMA”)) in connection with the issue or sale of any securities may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “Relevant Persons”). This communication must not be acted on or relied on by persons who are not Relevant Persons. Any investment or investment activity to which this communication relates is available only to Relevant Persons and will be engaged in only with Relevant Persons. Persons distributing this communication must satisfy themselves that it is lawful to do so.
Matters discussed in this announcement may constitute forward-looking statements. Forward-looking statements are statements that are not historical facts and may be identified by words such as “believe,” “expect,” “anticipate,” “intends,” “estimate,” “will,” “may,” “continue”, “should” and similar expressions. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions. Although the Company believes that these assumptions were reasonable when made, these assumptions are inherently subject to significant known and unknown risks, uncertainties, contingencies and other important factors which are difficult or impossible to predict and are beyond its control. Such risks, uncertainties, contingencies and other important factors could cause actual events to differ materially from the expectations expressed or implied in this release by such forward-looking statements. The information, opinions and forward-looking statements contained in this announcement speak only as at its date and are subject to change without notice. The Company does not undertake any obligation to review, update, confirm or release publicly any revisions to any forward-looking statements to reflect events that occur or circumstances that arise in relation to the content of this communication.