Evendo AB is applying for public listing

Evendo is believed to be the world’s first fully automated event marketplace; Think, “Booking.com for events” with a built-in planning tool on top, and you’ve summed up Evendo. The platform enables efficient and easy planning of corporate events with the ability to book online instantly ensuring successful events for both businesses and groups.. At a global level, no direct competitor has been identified by the Company and Evendo, already launched in Denmark and United Kingdom, has now begun a global expansion.

Evendo as a platform and concept is very scalable. From the very beginning, Evendo has been thought of as a global venture. However, we also know that you need to move with caution – and that preparation is often the key to success. Considering the scalability opportunities built into the platform and that the market, from a global point of view, is considered underdeveloped, it is thus in our strategy to grow extensively.

Until this date, Evendo has been funded by the founders and a series of private Danish and Swedish individuals – “friends and family”. A total of more than MSEK 40 has been invested reaching this point, where we now see positive contribution and have embarked on the global expansion journey.

In order to support the continuous growth, Evendo needs a broader financial footprint, reaching beyond the relatively small circle of shareholders with the company until recently.

Already in 2017 we began preparing and evaluating various paths to support the journey. Several negotiations with Venture Capitalist companies throughout Europe were undertaken. Additionally, pre-screening of Evendo for listing on various marketplaces were carried out by several Certified Advisors – all with positive results.

As we believe the business of Evendo, while being unique and complex in many ways, is appealing to a broader audience of shareholders, the decision was made to list the company at a northern MTF in Stockholm.

Trading at a public marketplace provides a hub for Tech savvy companies. It further provides a growth track that paves the way to the US market. This is a major advantage for Evendo since a substantial part of the future growth ambitions are aiming towards European and US markets.

Valuation considerations

The Board has decided to determine the size and pricing of the issue together with financial advisors in the offer based on a combination of several factors:

The business – Evendo operates in a large and growing industry with a low degree of digitalization at the present time. If several markets show the same buying behavior and willingness to take on the service, growth opportunities are immense by targeting new markets very quickly with low preparation or establishment costs.

Market potential – Evendo has a finished and proven product that meets a real and existing demand in the market. The Management of Evendo estimates that the relevant European and United States market is around € 464 billion (4,927 BSEK). If you only take a small share of this market in the form of business events for medium-sized groups, it still returns a large market with significant growth potential.

Investments – Evendo’s technology platform has been
developed since 2014 and over 25 MSEK has been invested in the technology platform since then. Evendo thus has a ready product with a stable base to extend with additional services and offerings on top.

Penetration and expansion options – In addition to the geographical expansion opportunities, Evendo has a favorable position to take ownership of significant parts of the Event industry ”food-chain”, thus positioning Evendo as a core element in the future of automated industries.

Additional Revenue stream options – It is evident that a number of additional potential revenue streams exist. Such opportunities will be strengthened even further as Evendo gets a stronger foothold in the market.

In the time since Evendo was trading at Spotlight Stock Market, the Company has seen significant progress adding corresponding significant value to the Company. This includes – but is not limited to:

  • Launch of Evendo version 3 – a significantly improved marketplace
  • Launch in London – the largest market in Europe – and is thus now operating in two markets, with a combined market potential of 13 times the market when Evendo was trading at Spotlight Stock Market.

At the last day of trading at Spotlight Stock Market, the closing price per share was SEK 21 per share, corresponding to a market cap of approximately 109.7 MSEK.

The financial advisors of the company have performed a calculation of “fair market value” of the company, totaling 163 MSEK.

Further peer analysis with 38 comparable companies trading on Nasdaq First North (Sweden) and London Stock Exchange AIM (United Kingdom) shows an average market cap of 526 MSEK with 50% discount rate.

Calculation and Peer Analysis can be obtained by contacting the company at investor@evendo.com.

Media

Småbolagsjakten, Stockholm, March 6, 2019

Investor Relations Contact

Costas Mavroudis20181102152531

Phone: +46 8 559 23 386
Mail: investor@evendo.com