Public offering of Airobot Technologies AS shares

Ellex Partner Gerli Kivisoo and Associate Georg Kuusik advised Estonian technology and manufacturing company Airobot on the initial public offering of its shares.

Nasdaq announced that the shares of Airobot, an Estonian air technology company, have been admitted to trading on Nasdaq Baltic First North Market by Nasdaq Tallinn as of today, February 10.

The admittance to trading of Airobot shares follows the initial public offering of the company. The total demand for the shares was EUR 3.87 million and the offering was 5.9 times oversubscribed. 4084 investors participated in the offering.

“What a great way to start the year by having a new tech company listed on Nasdaq First North market! I’m really delighted to see the growing appetite and ambition of Estonian entrepreneurs to take their companies public and strive for global success,” said Kaarel Ots, CEO of Nasdaq Tallinn.

“Investors showed great interest in Airobot’s share offer which was about 6 times oversubscribed. We take this result with great recognition and as a sign that investors have confidence in our company. Nasdaq First North gives Airobot the opportunity to take a big step forward to reach our goals,” said Heiki Aulik, founder and CEO of Airobot.

Ellex in Estonia advised the company during the IPO and listing process and serves as the certified adviser for Airobot on First North market.

Airobot is an indoor climate technology and manufacturing company with a specialty for advanced software and air analytics. Airobot’s main products are smart ventilation devices, which create a healthy indoor climate in homes.

Nasdaq First North Market is tailored to support smaller, growing companies that want to raise capital and get the visibility and credibility of being a public company. For investors, First North offers an opportunity to invest in companies that are at an earlier stage of their growth.