Full-service business law firm Fondia is reviewing preconditions for listing on First North Finland marketplace - aims at renewing the market for business legal services
Fondia aims at renewing the legal services market and offering companies individual and modern ways of purchasing legal services. Leveraging its unique operating model, Fondia is seeking growth especially in the growing market segment of medium-sized enterprises both in Finland and in international markets. In order to support its growth, the company has decided to review preconditions for listing on the First North Finland marketplace, maintained by Nasdaq Helsinki Ltd. If the potential listing were to be carried out, Fondia would become the first Nordic business legal services company with its shares subject to public trading.
Digitalization and globalization have strongly influenced the business environment companies operate in, and are constantly giving rise to new needs for legal services. Notably, amongst medium-size enterprises that do not have sufficient legal resources of their own, there is a growing need for legal expertise. “We target this growing market segment with a unique business model and electronic tools. MyFondia toolkit enables customers to manage their legal matters in a centralized manner, and through the LDaaS service our lawyers are available to the customer on demand and with predictable expenses”, says Fondia’s Managing Director Salla Vainio.
The ways of working and service concept of Fondia differ considerably from the traditional participants in the market, and the company has been successfully built on this model for over ten years already. The company is a business law firm growing profitably and with a digital service concept playing a central role in its service provision.
In addition to current business operations, Fondia looks forward to expanding its business to international markets. “Our digital service concept may be utilized efficiently in many different markets. The possible listing would also support this aim for internationalization”, Salla Vainio continues.
As well as supporting the successful implementation of Fondia’s growth strategy and access to capital markets in order to finance its investments, the potential listing would also make Fondia better known among customers and increase its attractiveness as an employer, especially abroad.
The major shareholders of the company have expressed their support for the review of the preconditions of the listing. The decisions on the actual execution and timetable of the potential listing will be made later on.
Fondia is a full-service business law firm operating in Finland, Sweden and Estonia. The turnover of the Fondia group in 2015 was approximately 13 million euros and is estimated to be approximately 14.75 million euros in 2016. Fondia employs over 100 persons.
Contacts for more information:
Salla Vainio, Managing Director, tel. +358 20 7205 429 Marianne Saarikko Janson, Head of Commercial, tel. +358 20 7205 401
This press release is not an offer to subscribe for or purchase any securities and this press release or any information provided in it should under no circumstances be seen as the basis of any kind of offer, promise or contract. Should the company at any time decide to offer its securities or apply for listing of its securities, all decisions regarding making investments into the company’s securities must be based on the prospectus the company to be published in connection with such offer or listing, not this press release. This press release may not be published or distributed, in whole or in part, directly or indirectly, in the United States of America, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa, or any other country where such publication or distribution would violate applicable regulation or would require additional measures in addition to the requirements under Finnish law.