Offer to the shareholders of Hövding
17 Jan - 15 Feb 2022Mandatory bid
In December 2021, Fosielund Holding AB, corporate identity number 556140-5167 (“Fosielund”) acquired 5,031 shares in Hövding Sverige AB (publ), corporate identity number 556708-0303 (“Hövding”) at a price of SEK 17.6307 per share. Following the acquisition, Fosielund Holding, together with Joel Eklund (related parties in accordance with I.3 in the Takeover Rules), owns more than 30 percent of the shares and votes in Hövding. Fosielund Holding owns 7,999,031 shares and Joel Eklund owns 320,000 shares in Hövding. The acquisition triggers a bid obligation, which means that Fosielund Holding will offer SEK 21 in cash for each outstanding share in Hövding Sverige AB (publ).
Today, Hövding is classified as the world’s safest head protection for cyclists and the airbag for cyclists has been sold in more than 300,000 copies in over fifteen countries. Since 2006, Hövding has grown from being two people with a good idea, to becoming a listed company that can handle everything from development and product manufacturing, to marketing and sales.
Fosielund Holding is a privately owned investment company based in Malmö with long-term holdings in listed and unlisted companies. Listed holdings include Hövding, USWE, Kjell & Co, Lexington, Magle Chemoswed and (via Grenlunden AB together with Grenspecialisten) Cellavision. Investments in unlisted companies include Parkster and Radinn.
The offer in summary
Offer period:: January 17 - February 15, 2022
Price:: 21.00 SEK