FSN Capital floats Netcompany on Nasdaq Copenhagen

FSN Capital has sealed its third IPO exit of the year, floating Netcompany on Nasdaq Copenhagen.

The DKK155 per share offer gives the IT services business and initial market cap of DKK7.75bn (€760.6m). Around 46 per cent of the company’s shares have been listed.

FSN and co-investor with retain little over 20 per cent of the business. The firm backed Netcompany less than three years ago.

Netcompany offers business-critical IT services to public and private sector clients. It employs more than 1,700 people in Denmark, Norway, the UK, Poland and Vietnam.

Last year it increased turnover by 57.4 per cent and reported an Ebitda margin of 28.4 per cent.

FSN Capital has also landed a final exit of listed portfolio company Green Landscape. The firm sold its remaining 26.15 per cent stake for a total of SEK197m.

Green Landscape listed on Nasdaq First North in March, and was joined a few weeks later by another FSN portfolio company, Bygghemma. The same month FSN sold its remaining shares in Instalco.