Oslo, 17 February 2021 – The education provider Sonans has today been admitted to trading on Euronext Growth (ticker code: SOHO).
“The listing of the company lays the foundation for further growth and development. The goal is to strengthen our mission, which is to offer high-quality education to even more students,” says CEO Erik Brandt.
Recently, the company raised NOK 1250 million through a private placement. The placement included NOK 200 million in new shares and NOK 1050 million in sales of existing shares. In addition, there was an over-allotment (greenshoe option) bringing total proceeds raised in the offering to NOK 1375 million.
The shares in the new issue were sold at NOK 50.00 corresponding to a market capitalisation of NOK 1.8 billion.
“In recent years, Sonans Gruppen has opened several new private candidate schools and acquired Bjørknes Høyskole as a part of the group. Many Norwegian students today have an incomplete high school diploma after graduation, and many lack the basic academic requirements to get into higher education programs. We want to help to close this social gap by providing exam-oriented education and close follow-up. This provides a ticket for people to pursue further studies and enter the work force. Furthermore, Bjørknes Høyskole will meet the increasing demanding in higher education both locally and online,” continues Brandt.
About Sonans
Sonans Gruppen is a leading Norwegian private education provider founded in 1989. Today, Sonans Gruppen consists of two main divisions; Sonans Utdanning and Bjørknes Høyskole. Sonans Utdanning is the market leader in Norway within private candidate exam preparation courses, and Bjørknes Høyskole offers high quality bachelor’s degrees within health, social sciences and psychology, both on campus and online.