Candles Scandinavia

Carlsquare supported Candles Scandinavia in the IPO, subscribed to 254 percent prior to listing on Nasdaq

1 Nov 2021

In the last days of October, the subscription period of Candles Scandinavia’s new issuing, prior to its listing on Nasdaq First North, was concluded. The IPO was heavily subscribed to 254 percent. On November 8, Carlsquare will celebrate when Candles Scandinavia ring the Nasdaq bell for listing.

“It’s a fantastic feeling to see such strong interest from investors in our company. With the capital raised and the upcoming listing, we can increase our production capacity and build an even stronger platform for growth. The IPO has not only given Candles Scandinavia direct capital market access but also created more visibility and credibility towards our stakeholders.”                 

– Viktor Garmiani, CEO, Candles Scandinavia AB

 

About Candles Scandinavia AB

Candles Scandinavia is a large-scale producer of scented candles made of 100 percent biodegradable, plant-based candle wax. The company offers a sustainable alternative to paraffin-wax, derived from fossil fuels. Candles Scandinavia targets retail chains and brands in fashion, beauty and home furnishings and offers a private label solution.

Paraffin is the most common raw material used in the production of scented candles. Paraffin wax is produced from the fossil fuel oil and, like all fossil fuels, has been criticized for the negative impact it has on the climate, the environment and health. It may therefore seem remarkable that the transition from paraffin to more sustainable alternatives has not progressed further. The explanation is that paraffin is very durable and easy to handle, withstands rapid temperature changes, and is also cost-effective to produce.

Other revenue streams come from the company’s additional segments named Brands and Home Party. Brands involves the exclusive distribution rights in the Nordics of both Yankee Candle and WoodWick, whilst Home Party is based on multi level-marketing of the company’s own brand of scented candles.

The company is now taking the next step and expanding its production of private label products. Demand and order intake are growing steadily as more and more customers become aware of the negative impact of paraffin on climate, environment and health, and that there is now a producer offering a sustainable alternative for large scale production. All production takes place in the company’s premises in Sweden.

 

Carlsquare AB is the financial partner and Nordic Issuing acts as project manager for the listing. Baker & McKenzie is a legal advisor to Candles in connection with the rights issue. Nordic Issuing also acts as an issuing institution. Amudova AB has been appointed the Company’s Certified Adviser.

Team

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Jessica Algner

Assistant

Telephone: +49 30 809 33 47-12

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Polina Amini

Senior Associate

Telephone: +49 40 300 836-14

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Jonatan Andersson

Equity Analyst

Telephone: +46 70 508 00 51

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Markus Augustsson

Head of Equity Research

Telephone: +46 76 235 03 20

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Agata Barsallo

Office Management & Accounting

Telephone: +44 20 8017 6020

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Caroline Berglund

Head of Equity Sales

Telephone: +46 73 382 10 82

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Anders Bo

Managing Partner

Telephone: +45 4199 8252

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Ulf Boberg

Senior Advisor Life Sciences

Telephone: +46 73 312 44 90

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Manfred Drax

Partner

Telephone: +49 89 255 49 53-15

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Anders Elgemyr

Managing Partner

Telephone: +46 70 496 18 15

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Niklas Elmhammer

Senior Equity Analyst

Telephone: +46 70 898 39 59

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Sebastian Fischer

Director

Telephone: +49 89 255 49 53-12

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Daniel Garlipp

Managing Partner

Telephone: +49 40 300 836-19

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Philip Goldhahn

Vice President

Telephone: +49 40 300 836-21

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Thorsten Grandt

Vice President

Telephone: +49 30 809 33 47-20

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Johan Heigard

Vice President

Telephone: +46 70 246 99 88

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Caroline Heintz

Senior Associate

Telephone: +46 707 40 68 58

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Maurice Hinrichs

Associate

Telephone: +49 40 300 836-20

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Arnold Holle

Managing Partner

Telephone: +44 20 80176020

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Lars Johansen

IT&Telecom Expert

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Elaine Kelly

Head of Marketing

Telephone: +49 40 300 836 18

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Anna-Lena Kickbusch

Office Management & Accounting

Telephone: +49 40 300 836 10

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Morten Kjærulff

Partner

Telephone: +45 2634 9031

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Mischa Krause

Director

Telephone: +49 40 300 836-24

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Steffen Leckert

Managing Partner

Telephone: +49 89 255 49 53 26

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Malve Liebig

Senior Associate

Telephone: +49 89 255 49 53-18

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Erik Lundberg

Partner

Telephone: +46 73 850 35 59

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Eva Macha

Office Management & PA to Michael Moritz

Telephone: +49 30 809 33 47-10

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Mandy May

Head of Operations

Telephone: +49 30 809 33 47 16

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Mirja Meyer

Office Management & Accounting

Telephone: +49 40 300 836 10

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Mark Miller

Managing Partner

Telephone: +49 40 300 836-11

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Michael Moritz

Managing Partner

Telephone: +49 30 809 33 47-13

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Bertil Nilsson

Senior Equity Analyst

Telephone: +46 70 434 90 03

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Flemming C. Pedersen

Managing Partner

Telephone: +45 4199 8251

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Anika Schaefer

Office Management & HR

Telephone: +49 89 255 495 310

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Alexander Schleppegrel

Associate

Telephone: +45 2621 0543

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Nico Schmidt-Weidemann

Managing Partner

Telephone: +49 89 255 49 53-17

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Caspar Graf Stauffenberg

Managing Partner

Telephone: +49 89 255 49 53-11

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Jon Tingling

Vice President

Telephone: +44 77 1347-8286

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Sybille de Vegvar

Business Development

Telephone: +44 20 8017 6017

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Oskar Wollert

Vice President

Telephone: +46 761 71 11 60

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Jan-Frederik Zapp

Associate

Telephone: +49 30 8093347-31

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Nils Zettelmeyer

Director

Telephone: +49 30 809 33 47-25

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Andreas Zetzsche

Partner

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Marta Zientarski

Vice President

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