The Norwegian robotics company AutoStore reached a valuation of 12 billion dollars
Norwegian robotics and software company AutoStore announced its share price range ahead of its listing on Oslo Bors, suggesting a market valuation of between 90 billion and 103 billion Norwegian kroners, that is, around 10.5 billion dollars and 12 billion dollars.
AutoStore, which operates in the warehouse automation industry and has installed 20,000 robots in over 35 countries, has Thomas H. Lee Partners LP, SoftBank and EQT AB among its current owners.
The company plans to raise gross revenues of about 2.7 billion Norwegian krones with the sale of up to 100 million new shares at a price between 27 and 31 Norwegian kroners each, while existing shareholders carry existing shares worth 10.8 billion and 12.8 billion Norwegian kroners.
It should be noted that the main investors, Alecta Pensionsforsakring, FIL Investments International, Mawer Investment Management and WCM Investment Management LLC have committed to acquire 200 million dollars in the offer.
Autostore shares are expected to start –under conditions – trading on the Oslo stock exchange at the end of October, while unconditional trading is expected to begin around October 22.