May 25, 2017

Robit poised for international growth

Pictured is Robit's pipe pile wall construction work at the Viljuisk hydro power plant in Yakutia, Russia.
Pictured is Robit's pipe pile wall construction work at the Viljuisk hydro power plant in Yakutia, Russia.
Robit

Finnish Robit, manufacturer of high quality button bits for rock drilling and casing systems for ground drilling, has received gross proceeds of 49.5 million euros.

The money came in an accelerated book-built offering and will be used to boost global growth. Currently the company exports to more than 115 countries.

With reference to the share offering, Robit issued five million new shares in the company to institutional investors. In connection with this, the largest shareholder sold two million shares.

“Owing to the successful offering, the company is even better prepared to take on the next growth phase – Robit 3.0,” chairman of the board of directors Harri Sjöholm says. “I am very satisfied with the offering result that provided Robit with a highly qualified group of both Finnish and international institutional investors. We look forward to our future journey together with them.”

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