Thu, 16 Feb 2012 07:00:00 +0100
NORDIC IRON ORE WITHDRAWS ITS IPO
NOT FOR DISTRIBUTION OR PUBLICATION, DIRECTRLY OR INDIRECTLY, IN OR INTO AUSTRALIA, HONG KONG, CANADA, JAPAN NEW ZEELAND, SOUTH AFRICA OR THE UNITED STATES. OR ANY OTHER JURISDICTION IN WHICH THE DISTRIBUTION OR PUBLICATION VIOLATES APPLICABLE RULES IN SUCH COUNTRY. ADDITIONAL RESTRICTIONS APPLY. PLEASE SEE IMPORTANT INFORMATION AT THE END OF THE PRESS RELEASE.
The Board of Directors of Nordic Iron Ore AB (publ) (“Nordic Iron Ore” or the “Company”) has decided to withdraw the proposed listing on NASDAQ OMX First North, as the demand from investors was not sufficient to ensure a successful post IPO life on the stock exchange.
”We have experienced great interest from investors in Nordic Iron Ore as a company and in our project. But the Board of Directors decided not to complete the offer and the listing as the conditions for proper trading and a positive aftermarket have been assessed as unsatisfactory”, says Christer Lindqvist, Nordic Iron Ore’s CEO, and continues: ”We will now finance our project in another way and the Company’s roadmap will stay unchanged.”
ABG Sundal Collier acted as financial advisor and Lead Manager and Bookrunner in connection with the offer. Avanza Bank was Retail Selling Agent. The law firm Bird & Bird is legal advisor to the Company and has, together with Cederquist law firm, acted as legal advisor to the Company in connection with the offer.
For further information, please contact:
Christer Lindqvist, CEO of Nordic Iron Ore, telephone 0705-910 483, e-mail firstname.lastname@example.org
Lennart Eliasson, CFO of Nordic Iron Ore, telephone 0706-405 177, e-mail email@example.com
About Nordic Iron Ore
Nordic Iron Ore is a mining and exploration company founded in 2008 aiming at resuming mining operations in Blötberget and Håksberg and exploring the possible intermediate expansion potential of the Väsman field – all together forming the Ludvika Mines in Dalarna, in the central part of Sweden. Nordic Iron Ores establishment and expansion plan is justified by strong demand for steel and favourable iron ore prices as well as economies of scale as the Company will become the first player ever to integrate the major iron ore deposit in the Ludvika region. For further information, please visit: www.nordicironore.se