Eco Wave Power announces that the Fourth Swedish National Pension Fund (AP4) and Skandia, along with board members will invest in IPO.
Today, EWPG Holding AB (publ) (Eco Wave Power) announces that the Fourth Swedish National Pension Fund (AP4) and Skandia, one of the leading Swedish insurance companies, along with other investors, including board members, Mats Andersson and Elias Jacobson will invest SEK 25m in the company’s ongoing IPO.
AP4 and Skandia, together with a few other investors, including board members, Mats Andersson and Elias Jacobson have agreed to acquire in total approximately 1.35 million shares in the offering, at the same terms and conditions as other investors, corresponding to approximately 17 percent of the number of shares available in the offering.
“Having attracted respected investors such as AP4 and Skandia on board is a clear validation of the rigorous work invested in the company. We are very excited about the strong interest in our company from the Swedish investor community.” says Inna Braverman, CEO, Eco Wave Power.
Eco Wave Power’s recently elected board members Mats Andersson and Elias Jacobson will also participate and support the transaction.
Mats has an extensive background as a director and chairman of the board. Elias is a renewable energy pioneer and has, among other things, founded Svenska Vindbolaget AB which merged with Eolus Vind, a leading public wind power developer in Sweden.
“Getting seasoned executives as Mats and Elias on board is instrumental to our further journey. They already play a key role in our discussions with Swedish municipalities who have expressed an interest to install Eco Wave Power’s revolutionary technology. Their decision to invest in Eco Wave Power is of course a strong signal of the firm belief in our company.” continues Braverman.
The subscription period for Eco Wave Powers initial public offering runs until 3:00 pm on Wednesday the 10th of July 2019.
For full press release klick here.