Oversubscribed Zwipe Share Offering Rakes in Capital

“Much of the excitement can be attributed to a broader buzz over the emergence of fingerprint-scanning payment cards, an area in which Zwipe has established a solid footing ahead of large-scale rollouts.”

Oversubscribed Zwipe Share Offering Rakes in Capital

Zwipe‘s big share offering last week proved to be a great success, the company reports.

The fingerprint biometrics specialist had announced that it would seek to raise up to NOK 120 million through a public and private equity offering, framing it as a move anticipating Zwipe’s entry to the Oslo Børs Merkur Market. It all went according to plan, with the company asserting in a new statement that the offering “was multiple times oversubscribed”, having attracted “strong interest from institutional and professional investors as well as the general public in Norway and Sweden.”

Zwipe also says that individuals affiliated with the company, including Chairman Jörgen Lantto and principal owner Lars Windfeldt, held to their pre-commitments, purchasing a total of 4.5 million shares, cumulatively worth NOK 90 million, or about $10.5 million USD.

Much of the excitement can be attributed to a broader buzz over the emergence of fingerprint-scanning payment cards, an area in which Zwipe has established a solid footing ahead of large-scale rollouts. As Lantto commented in the company’s statement, Zwipe’s success in raising the investments and accessing the Merkur Market are “important milestones” as the company strives “to capitalize on its strong position in the biometric payment marketplace and as the payment industry moves towards bringing biometric payment cards to consumers.”

January 21, 2019 – by Alex Perala