Issuing Services

Mangold Issuing Services provides companies with financial advisory services and acts as an Issuing Agent in connection with rights issues. For assignments as an Issuing Agent, Mangold Issuing Services manages the administrative aspects of the rights issue both before, during, and after the subscription period. Before the subscription period, we assist in the preparation of required transactional documentation such as prospectuses or investment memorandums, time schedules, subscription forms, press releases, and coordinate with Euroclear Sweden, the Financial Supervisory Authority or the trading exchange, and other involved parties in the transaction. During the subscription period, we manage subscription forms, conduct anti-money laundering checks, and receive proceeds from the issuance. After the subscription period, we facilitate the post-subscription administration of the rights issue, such as allotment proposals, and distribution of settlement notes to subscribers in the rights issue.

For assignments as a financial advisor, Mangold Issuing Services is responsible for-, and involved in the entire transaction process; from the first meeting up until the subscribers receive the allotted shares issued in the rights issue. As a financial advisor, our main objective is to ensure that companies manage to raise the working-, and expansion capital they need.

In a directed share issue, Mangold Issuing Services can assist companies with the administration of the directed issue, ensuring that the investors participating in the directed issue receive the subscribed for, and allotted shares and that the company receives payment for the shares issued in the transaction. Mangold Issuing Services also handles all communication with Euroclear Sweden.

Mangold Issuing Services can also provide services within financial advisory in a directed issue, either through an accelerated book-building procedure, or any other form of a directed issue. For assignments as a financial advisor, Mangold Issuing Services approaches and identifies investors with an interest for the company’s business, through which external capital may be facilitated.

Mangold Issuing Services has been involved in numerous acquisitions where the consideration amounted to SEK multi-billion. For example, Mangold Issuing Services assisted NeoGames S.A. in their public tender offer for Aspire Global PLC, where the acquisition consideration amounted to SEK 4.3 billion.

In public tender offers, Mangold Issuing Services can assist with all administration, regardless of if the acquisition involves a cash consideration (cash payment), non-cash consideration (payment through issuance of new shares), or combination thereof. By engaging us, a company can expect the highest level of service and a successful completion of a tender offer.

Alternative Investment Funds (AIFs) refer to funds that raise capital from investors and allocate the proceeds in accordance with an established investment policy. Mangold Issuing Services has several ongoing assignments with Alternative Investment Funds and handles all administration related to the issuance of shares as well as various types of redemptions. Mangold Issuing Services also assist in the distribution of shares to investors from the fund.

A Swedish Depository Receipt (SDR) is a transferable security issued by a depository bank representing a specified number of shares in a foreign company. Typically, holders of SDRs have the same rights to dividends and voting rights as if they owned the underlying share the Swedish Depository Receipt represent.

For foreign companies wishing to list the company stock on a trading exchange in Sweden, Mangold Issuing Services can assist in issuing Swedish Depository Receipts and is responsible for all administration related to the SDRs.

Euroclear Sweden AB is Sweden’s sole central securities depository, where all settlement of securities and trading on the Swedish stock exchanges take place. Euroclear affiliation means that a company’s share register is digitalized and administered by Euroclear, making the shares visible to investors in the investor’s account or securities account, which is advantageous for attracting new investors to the company.

Mangold Issuing Services can assist companies with all administration related to the Euroclear affiliation process of the company’s shares.

The reasoning behind a stock split or a reverse stock split is to make the trading in a stock on an exchange more convenient for investors. With a stock price deemed too “high” in terms of nominal value, it may be difficult for investors with less capital to invest because a larger amount is required to purchase one single share. Thus, a stock split would increase accessibility for investors with less capital to invest in a company’s stock. With a stock price deemed too “low”, in terms of nominal value, a company may miss out on institutional ownership as some financial institutions may have constraints that limits them to only invest in stocks with a share price exceeding a certain SEK amount. Thus, a reverse stock split, could increase access to institutional capital.

Mangold Issuing Services assists companies with all administration related to stock splits and/or reverse stock splits.

A bond is a type of fixed income instrument wherein a company issues bonds representing the loans and investors purchase these bonds and receive an interest rate for a specific period of time. When the bond matures, the company that issued the bond repays the loan to the bondholder, plus any outstanding accrued interest.

If a company wants to issue bonds, Mangold Issuing Services can assist with all the administration related to the bond issuance.

A convertible debenture is a form of loan that can be converted into shares at a certain point in time or under certain conditions. It provides investors in convertible debentures the opportunity to participate in a company’s future growth by converting their loan into shares.

If a company wants to issue convertible debentures, Mangold Issuing Services can assist with all the administration related to the convertible debenture.

Redemption of shares is a process whereby a company decides to buy back some of its own shares from its shareholders, sometimes at a fixed amount per share. Redemption can occur with-, or without the issuance of sale rights.

Mangold Issuing Services can assist companies with redemption programs and handle all administration related to the program.

In a competitive market, it’s important to retain key personnel within an organization, and one way to achieve this is through the implementation of incentive programs, such as a stock option program. A stock option program involves the issuance of stock options, where the underlying asset is the company’s stock, typically to key personnel or employees within an organization, allowing them to purchase shares in the company at a predetermined time and price.

Mangold Issuing Services can assist companies with the administration of various incentive programs, such as a stock option program.