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On Thursday 11 December 2025, Butterfly Holdco Pte Limited (“EQT”) completed the sale of 8 million shares in Enity Holding AB (publ) (“Enity”), corresponding to approximately 16% of the shares in Enity at a price of SEK 83 per share, yielding proceeds of SEK 664 million. Following the transaction EQT will hold approximately 24% of the shares in Enity.

ABG Sundal Collier acted as Joint Bookrunner in connection with the placement. This is ABG Sundal Collier’s second transaction with Enity and its main owner EQT, following the IPO earlier this year.

On Tuesday 9 December 2025, it was announced that MetaCompliance had acquired Junglemap for an undisclosed consideration.

Junglemap is a leading provider of NanoLearning-based security and compliance awareness. Founded in 2002, Junglemap enables organisations to deliver scalable, high-impact training through short, targeted lessons designed to drive behavioural change and improve knowledge retention.

MetaCompliance is the human risk management company transforming how organisations build resilient security cultures. Its intelligent enterprise-ready platform combines personalised cybersecurity education, behavioural analytics and automation to measure, mitigate and manage human risk at scale. Trusted by over six million users worldwide, MetaCompliance helps global enterprises reduce risk and embed lasting behaviour change. Since 2024, the company has been backed by Keensight Capital, one of Europe’s leading growth-equity buyout firms.

Arctic Falls AB (publ) (the “Company”), a leading Nordic player specialising in winter testing for tyre and vehicle manufacturers has successfully completed its IPO on Nasdaq First North Growth Market. The IPO attracted significant interest from high quality investors, as well as from the general public in Sweden. The offering, including the greenshoe option, amounted to approximately SEK 195m, representing 30% of the outstanding shares in the Company and was multiple times oversubscribed. The IPO was priced at SEK 72 per share, implying a market capitalisation of approximately SEK 651m.

Arctic Falls is a leading Nordic provider of testing services for the tyre and automotive industries, particularly within winter testing. The Company is based in Älvsbyn and has more than 40 years of experience in developing and operating complete testing environments for the automotive industry. Under extreme climatic conditions, Arctic Falls offers advanced test environments and technical solutions that support the development of next-generation vehicle technologies and tyres. Through its facilities in northern Sweden, the Company enables the validation and optimisation of future vehicle technologies, including electric vehicles, autonomous systems, advanced safety solutions and high-performance winter tyres, in a stable winter climate.

The Listing is expected to support the Company’s growth ambitions by broadening its shareholder base and increasing access to both the Swedish and international capital markets. Furthermore, a listing on Nasdaq First North Growth Market is expected to enhance the Company’s visibility and that of its operations, as well as strengthen the brand among customers, partners, employees, investors, and other key stakeholders. Protean Small Cap, Svante Elfving and Swedbank Robur Fonder acted as cornerstone investors in the transaction. Cornerstone investors agreed to subscribe for shares in the offering of up to approximately SEK 69m, corresponding to c. 36% of the total offering.

ABGSC is proud to have acted as Sole Global Coordinator and Bookrunner in the transaction.

On Wednesday 10 December 2025, Dellia Group ASA (“Dellia”) announced the successful completion of a private placement of 650,000 new shares at a fixed price of NOK 310 per share, generating gross proceeds of NOK 201.5 million. The private placement attracted strong interest and was multiple times covered. Proceeds from the private placement will be used to fund Dellia’s acquisition of Kirirom Food Production (K.F.P.) Co., LTD (“Kirirom”), its largest and most significant supplier of dried fruit products.

Dellia is a Nordic consumer goods group with a fast-growing position in the dried fruit category. The Group develops and markets brands such as Sunshine Delights®, Dippies® and A Date With® – exciting and tasty products broadening the dried fruit category through mass market appeal.

ABG Sundal Collier appreciates the opportunity to assist Dellia once again after the very successful IPO in September 2025 where we acted as lead manager and sole bookrunner.

WS WeSports Group AB (publ), the leading Nordic specialist in sports and leisure equipment, has successfully completed its IPO on Nasdaq First North Premier Growth Market. The offering, including the greenshoe option, amounted to approximately SEK 500m and was multiple times oversubscribed, driven by strong demand from both new and existing Swedish and international institutional investors.

The Company intends to use the primary proceeds to accelerate growth, primarily by financing selective platform and add-on acquisitions, as well as for investments within existing portfolio companies and general corporate purposes. DNB Asset Management, Handelsbanken Fonder and Svea Bank AB acted as cornerstone investors in the transaction. Cornerstone investors agreed to subscribe for shares in the offering of up to approximately SEK 150m, corresponding to c. 30% of the total offering. The IPO was priced at SEK 80 per share, implying a market capitalization of approximately SEK 2.2bn. Trading in the Company’s shares commenced on 9 December 2025 under the ticker WSG.

Axcel has partnered up with Bekk Consulting, after acquiring the company from TietoEvry, with management team and employees co-investing alongside Axcel. The transaction marks Bekk’s transition to an independent, Axcel-backed company with a strong platform for continued growth. The associated inaugural bond issue attracted strong interest from institutional investors and was significantly oversubscribed, securing the financing required to enable a seamless carve-out.

Bekk is a leading Norwegian technology and management consultancy with more than 600 employees across offices in Oslo and Trondheim. The company provides integrated digital product development and management consulting services, delivering mission-critical digital solutions to blue-chip public and private clients.

ABG Sundal Collier acted as Axcel’s financial advisor in the acquisition of Bekk and subsequently as Joint Bookrunner on the NOK 700 million senior secured bond issue. Net proceeds from the bond, together with equity from Axcel and management, will be used to finance the acquisition and for general corporate purposes.