Oslo – 24 June 2021 – Euronext today congratulates SmartCraft on its listing on Oslo Børs (ticker code: SMCRT).
SmartCraft is the leading Nordic provider of software solutions to small- and medium-sized enterprises in the construction sector. SmartCraft’s solutions help customers increase their productivity, margins and resource efficiency.
The company raised NOK 1.1 billion in its initial public offering. The offering included NOK 500 million in new shares and NOK 600 million in sales of existing shares. In addition, there was an over-allotment (greenshoe option) bringing total proceeds raised in the offering to NOK 1.21 billion. The shares were sold at NOK 17.80 and the company’s market capitalisation was NOK 3 billion on the day of listing.
Gustav Line, CEO of SmartCraft, said: “As a listed company with a strong shareholder base, we are ready for the next leg in our growth journey. We are already the market leader in the Nordics, where we estimate the market potential to be around NOK 10.5 billion. We will capture our share of this through organic growth and through more acquisitions. Over time we aim to become the leading provider of software to SME construction companies in Northwestern Europe.”
SmartCraft is the leading Nordic provider of mission-critical SaaS solutions to SME's in the construction sector. The company’s business model is highly scalable, based on 94% recurring revenue and low churn. The construction sector is among the least digitalized industries and represents a NOK 10bn software market in the Nordics, growing at a double-digit rate. SmartCraft’s solutions help customers to increase their productivity, margins, and resource efficiency.