Ambu to raise USD 212m in new capital

While Ambu has had an extraordinary start to the year due to Covid-19, the Danish medtech firm now plans to raise a large amount of extra capital for further initiatives that can accelerate growth.
Photo: Ambu / PR
Photo: Ambu / PR

Ambu plans to raise DKK 1.3bn (USD 212m) in fresh capital through the private placement of new and existing shareholders in an accelerated bookbuilding process, which Ambu announced on Wednesday morning, on which occasion the medtech firm presented its fiscal report for Q1 of the staggered financial year 2020/20201, which in many ways turned out even better than analysts expected.

This move is a way of strengthening Ambu's capital base, which can provide the firm with more strategic and operational flexibility, writes the company in the announcement.

"Growth of the single-use endoscopy market has accelerated on the back of an increased awareness of contamination levels and technological advances, and the COVID-19 pandemic has further increased the receptiveness to single-use endoscopy," writes Ambu in the statement.

Ambu aspires to become the most innovative player on the market for single-use endoscopies, and in order to reach this goal and attain more flexibility the firm sees it as necessary to raise DKK 1.3bn.

The proceeds will go towards paying back debts, according to the company announcement.

Financial institutions Danske Bank, J.P. Morgan AG and Nordea Danmark are acting as joint global coordinators and joint bookrunners for this offering, according to Ambu.

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