Vinge has advised VEF Ltd, an investment company whose Swedish Depositary Receipts (“SDR”) are listed on Nasdaq First North, in connection with a directed share issue whereby VEF receives approximately SEK 522 million in issue proceeds.
The subscription price was determined to SEK 3.15 per SDR through an accelerated book building process. The share issue was directed to selected Swedish and international investors. The company intends to use the expected net proceeds from the transaction to enable potential near-term investment opportunities.
VEF Ltd is an investment company that invests in growth stage private fintech companies. VEF focuses on scale emerging markets and invests across all areas of financial services inclusive of payments, credit, mobile money and wealth advisors. VEF trades in Sweden on Nasdaq First North Growth Market under the ticker VEFL SDB.