Media intelligence and social analytics firm Meltwater admitted to Euronext Growth
It’s an online world. Meltwater’s 328 million Euro IPO testimony to how the world has changed during the course of this year.
Oslo Børs today congratulates Meltwater, a leading global provider of media intelligence and social analytics Software-as-a-Service solutions, which has today been admitted to trading on Euronext Growth Oslo (ticker code: MWTR).
“We founded the company because the world is drowning in data and we saw a need for a software that could cut through the noise online and help people stay on top of their competitors, customers, and industry in real-time. Twenty years in, we realise that this need is much bigger than we ever dreamt about,” said Jørn Lyseggen, founder and Executive Chairman of Meltwater.
He started the company in shack number 15 on Tjuvholmen, Oslo in 2001. Today, as the world’s first online media monitoring company, Meltwater’s algorithms analyse 500 million documents and perform more than 12 trillion searches every day. Meltwater utilises its patented artificial intelligence (AI) system to turn unstructured news and social data into unique insights for approximately 28,000 customers, globally.
The company offers a fully integrated offering that cuts across and bridges a variety of use cases such as public relations, communications, marketing, lead generation and customer relations.
“Meltwater’s Norwegian heritage is central to our identity as a company, and so it’s only fitting that we are listing on Euronext Growth in Norway. On this day, I want to thank the talented teams in each of our 50 offices around the world and our clients, who trust us to be their partners in delivering the insights they need to make better, more informed decisions. Special thanks go to our investors for joining us on this journey and seeing the promise of Meltwater, our people and our technology,” said John Box, CEO of Meltwater: “I’m incredibly excited about the next chapter and listing on Euronext Growth gives us the opportunity to strengthen our position as a global leader and reach the next level in this rapidly growing industry.”
The total IPO transaction raised gross proceeds amounting to NOK 3,480 million (~ EUR 328 million)1. The admission and issue price of Meltwater shares was set at NOK 43.50 per share. Market capitalisation was NOK 12,644 million (~ EUR 1,193 million)2 on the day of listing.
“The offering, which attracted strong interest from Norwegian, Nordic and international high-quality institutional investors, was substantially oversubscribed,” Meltwater announced.
“I am honoured to welcome Meltwater to Oslo Børs and Euronext Growth. At Oslo Børs, we are proud to attract an international tech company such as Meltwater and we take this as a reflection of our position. With today’s listing, more than 10 per cent of the total market capitalisation at Oslo Børs is within Technology, Media, and Telecoms – the highest level ever,” said Øivind Amundsen, President and CEO of Oslo Børs.