Adevinta started trading on 10 April after completing what was the fourth largest ever IPO in Oslo and the largest since 2006.
The team, comprising Wiersholm partners Sverre Sandvik and Erik Thyness, Managing Associates Anne Lise Ellingsen Gryte and Svein-Helge Hanken, and Associates Sebastian Hestnes Andresen and Hanna Norman Kvenshagen, advised on all aspects of the transaction.
The transaction represents a significant step for Adevinta, a spin-off from media company Schibsted, and positions it to lead continued online marketplace consolidation internationally. Adevinta’s brands include France’s Leboncoin, Brazil’s OLX and Spain’s InfoJobs, among others. Schibsted will keep its newspapers and classified ads units in the Nordic region.
Partner Sverre Sandvik commented that it has been a slow start to the year for IPOs, with Adevinta being the first new listing on the main market in 2019. “However, there are signs the market is picking up and the success of the Adevinta transaction should be a positive signal to other companies considering a listing, so we expect to see a decent number of listings during the later part of the year.” Sandvik also commented: “We are very pleased to be part of the success of Adevinta’s landmark IPO, which represents a confirmation of the strength of Wiersholm’s capital markets practice.”