OSLO: Pexip Holding, a video communications provider, was today listed on the Oslo Stock Exchange trading under the symbol PEXIP.
Around the world, countries are in lockdown to prevent the spread of the Covid-19 virus, creating a surge in remote work and unprecedented demand for video conferencing. Organizations are relying on Pexip’s video platform to enable business continuity and provide remote patient care like never before. At the same time, with turbulent economic markets and travel restrictions that introduce logistical hurdles to conducting a deal, many companies have deterred launching IPOs at this time. Pexip overcame this barrier by using its own video conferencing platform to conduct 99 percent of the IPO process — investor roadshows, meetings, and book building — by video.
Pexip raised 100 MUSD, and the offering was oversubscribed early, showing that video communication is top of mind for many investors right now. The Company attracted investors from across Europe and the United States.
“IPOs usually involve analysts, investment bankers, and company executives traveling around the world for presentations, creating a hectic and intense schedule. Conducting this IPO process on video significantly increased the productivity and the reach of the team. Meetings were conducted with investors in over 15 cities worldwide and working on video allowed for last minute changes and flexibility in a packed agenda. The fact that 100% of the virtual 1-1 meetings on the roadshow led to subscriptions to the IPO also demonstrates that virtual meetings can be just as impactful, even when they involve complex negotiations,” said Odd Sverre Østlie, CEO of Pexip. […]