Bird & Bird acted as a legal counsel for Finnish real estate house Toivo Group in connection with its oversubscribed EUR 13 million initial public offering and listing on First North Finland. The subscription price in the public and institutional offering was EUR 2.10 per share and in the personnel offering EUR 1.89 per share, setting the company’s market value directly after the offering to approximately EUR 111 million. Trading on First North Finland began on 11 June 2021.
"We are very happy having advised Toivo Group in connection with its IPO and listing. This transaction continues to show that we are doing right things to grow our capital markets practice in Finland. I would like to thank all the parties involved in the process and especially the management team and Board of Directors of Toivo Group as well as the equity capital markets team of Danske Bank, acting as the Sole Global Coordinator of the offering.", says Counsel Mika Puurunen, who led the Bird & Bird's team.
“One of the best decisions that we made in connection with the whole IPO process was to engage Bird & Bird as our legal counsel. The level of commitment and ownership Bird & Bird’s team demonstrated was truly exceptional. We are extremely grateful for their support.”, says Markus Myllymäki, CEO of Toivo Group.
Toivo Group, established in 2015, is a Finnish real estate house, whose business comprises project development and long-term property ownership. The company’s business model is unique as it combines the whole value chain of real estate business all the way from real estate development to holding, managing and renting the property. The company’s own team takes care of the property throughout its whole lifecycle all the way from raw land to rental agreement negotiations and property maintenance.
Bird & Bird's core team consisted of Mika Puurunen, Krista Keinänen and Sofia Oesch.
