Thommessen has acted as legal counsel for SATS ASA in connection with its IPO and listing on Oslo Stock Exchange.
SATS is a leading fitness center chain in the Nordics, and a large player in the European health and fitness market. Thommessen has assisted SATS with its listing on Oslo Stock Exchange. The company raised gross proceeds of approximately NOK 1.3 billion in connection with its listing, making this the largest listing on Oslo Stock Exchange in 2019 (to date). SATS has a market capitalization of approximately NOK 4 billion, and had its first day of trading on Oslo Stock Exchange on 23 October 2019.
SATS operates a full-service model and offers an extensive and high quality range of training concepts to its close to 700,000 members through its 248 conveniently located fitness clubs. Since its launch in 1995, SATS has grown significantly and pioneered the fitness industry in the Nordics with the aspiration to make people healthier, happier and more active. The company's full-service model includes an offer of modern fitness equipment, individual and group training, personal training, online training, physiotherapy and other health and fitness related products and services to its members across the Nordics. SATS is headquartered in Oslo, and has more than 10,000 employees in Norway, Sweden, Finland and Denmark.
Solveig Fagerheim Bugge and Baard Bale led the Thommessen team in this listing process. The core team also comprised Øyvind Mork Karlsen, Nanette Arvesen, Katinka Ranberg, Linn Nordhus and Martin Mjaaland. Thommessen, represented by Hans Haugstad and Ole Christian Sandnes Jenssen, also assisted SATS with the IPO related refinancing.