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Truecaller IPO
Numis acts as Joint Bookrunner to Truecaller on its Nasdaq Stockholm IPO.
We are proud to have supported Truecaller on its successful SEK19.4bn ($2.2bn) IPO on Nasdaq Stockholm, as the company embarks on the next stage of its growth journey.
Our client is the leading global platform for verifying contacts and blocking unwanted calls and messages. The company is on a mission to build trust in communication and has reached 278 million monthly active users (MAUs) and is India’s third-largest communications platform by MAUs.
Truecaller has exhibited strong top-line growth. Its operating revenue grew from SEK190 million ($22 million) in FY18 to SEK492 million ($56 million) in FY20.
Numis played a critical role on the IPO. In particular, we introduced a leading, cornerstone investor with a particular expertise and track record in backing businesses with significant operational presence in India. This approach generated early momentum in the bookbuild process and helped to underpin valuation.
Truecaller has exhibited strong top-line growth. Its operating revenue grew from SEK190 million ($22 million) in FY18 to SEK492 million ($56 million) in FY20.
Numis played a critical role on the IPO. In particular, we introduced a leading, cornerstone investor with a particular expertise and track record in backing businesses with significant operational presence in India. This approach generated early momentum in the bookbuild process and helped to underpin valuation.
The total deal size equates to SEK3.8bn ($430 million), which includes a primary offering of SEK1.0bn ($110 million) and a secondary offering of SEK2.8bn ($320 million).
Proceeds from the issue will position the company for its future growth journey and provide strategic flexibility for opportunistic acquisitions.
Proceeds from the issue will position the company for its future growth journey and provide strategic flexibility for opportunistic acquisitions.
“We are delighted to have helped Truecaller with this successful transaction. Our client has an exceptional proposition, significant opportunities ahead of it and now more firepower to achieve them. The business is highly attractive to the global growth investors that we know well and we were very pleased to be able to introduce a cornerstone at an early stage to help underpin this landmark deal”.
The Numis deal team was led by Simon Willis and Jamie Loughborough.
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