Savox eyes Helsinki listing to fund next phase of growth

Finnish company Savox has announced plans for an initial public offering and listing of its shares on Nasdaq Helsinki.

Savox said the contemplated IPO is intended to support the implementation of its long-term business strategy and strategic objectives.

Headquartered in Espoo, Finland, the company operates through a global network of distributors and agents, supplying mission-critical communications solutions to the defence, fire and rescue, law enforcement and industrial sectors.

Savox said proceeds from the listing would strengthen its balance sheet and financial flexibility, enabling it to pursue its growth strategy.

- Our objective is to grow revenue by an average of no less than 20 percent annually for the period ending at the end of 2030 and to achieve an EBIT margin above 20 percent over time, CEO Jerry Kettunen said in an online statement.

According to Savox, the listing would also allow the company to access capital markets and broaden its ownership base among domestic and international investors, increasing the liquidity of its shares.

The IPO is also expected to benefit Savox operationally, strengthen its recognition among customers, prospective employees, investors and other stakeholders, and support its competitiveness and long-term value creation.

Danske Invest Finnish Equity Fund, DNB Asset Management, Elo Mutual Pension Insurance Company, Protean Funds Scandinavia and Tesi, also known as Finnish Industry Investment Ltd, have each committed individually to subscribe for shares in the company as cornerstone investors.