Nasdaq Helsinki welcomes Virala Acquisition Company
June 29, 2021 – Nasdaq (Nasdaq: NDAQ) announces that trading in Virala Acquisition Company Plc shares (short name: VACSPAC) commence today on Nasdaq Helsinki Main Market. Virala Acquisition Company belongs to the Financials sector. The company is the 109th company to be admitted to trading on Nasdaq’s Nordic markets* in 2021, and it represents the 14th listing on Nasdaq Helsinki in 2021. Virala Acquisition Company is the first SPAC, Special Purpose Acquisition Company, to be listed on Nasdaq Helsinki.
Virala Acquisition Company Plc (VAC) is a Finnish acquisition company, tailored to the Finnish capital markets. The goal of VAC is to identify and execute one or more acquisitions that aim to create significant value for both the shareholders and the target company, as well as diversify the Finnish capital markets. VAC seeks one or more companies with an estimated enterprise value ranging from approximately EUR 50 to EUR 500 million. A suitable target could be, for example, a growth-oriented family business, or VAC could carve out an individual business from a larger company, if VAC feels the individual business could be more efficiently developed as a separate company. The initial intention is to acquire the target company with VAC's shares, as this will enable VAC to use a significant part of the capital raised in the offering to develop the combined company. The founding shareholder of VAC is the industrial enterprise Virala Corporation which has committed to act as a long-term anchor owner and developer of the companies to be acquired.
“We believe we can offer target companies a unique opportunity to realize their ambitious plans. Due to the strong interest shown by investors from the very beginning we decided to increase the size of the offering substantially compared to our original target. Together, we will now be able to complete a truly significant acquisition. On behalf of our team, I am very pleased with the result of our initial public offering. We have an exceptionally strong team and next we will harness the power of our networks to find the best possible target company to acquire. The search has now officially begun!”, says Johannes Schulman, CEO of Virala Acquisition Company. “The successful offering also shows that we have succeeded in building a model that the investors in the offering trust. I am particularly pleased that we were able to offer a good allocation to so many retail investors. Often in IPOs the number of shares allocated to individual retail investors has remained small. Thanks to the offering, our company now has a strong and diverse shareholder base.”
“We are excited to welcome Virala Acquisition Company as the first SPAC on Nasdaq Helsinki”, said Henrik Husman, President of Nasdaq Helsinki. “We look forward to support Virala Acquisition Company as they begin their search for the suitable company to acquire.”
“Virala Acquisition Company is the fifth company to enter Nasdaq Nordic market as a SPAC,” said Adam Kostyál, Head of European Listings at Nasdaq. “SPACs continue to attract the interest of European issuers as a way to enter the public market. We warmly welcome Virala Acquisition Company to our strong Nordic markets.”
*Main markets and Nasdaq First North at Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm
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Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland, Nasdaq Riga, Nasdaq Stockholm, Nasdaq Tallinn, Nasdaq Vilnius and Nasdaq Clearing are respectively brand names for the regulated markets of Nasdaq Copenhagen A/S, Nasdaq Helsinki Ltd., Nasdaq Iceland hf., Nasdaq Riga, AS, Nasdaq Stockholm AB, Nasdaq Tallinn AS, AB Nasdaq Vilnius, and Nasdaq Clearing AB. Nasdaq Nordic represents the common offering by Nasdaq Copenhagen, Nasdaq Helsinki, Nasdaq Iceland and Nasdaq Stockholm. Nasdaq Baltic represents the common offering by Nasdaq Tallinn, Nasdaq Riga and Nasdaq Vilnius.
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MEDIA CONTACT:
Maarit Bystedt
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