Legal and Financial Titans Behind the Deal
Leading the legal efforts, White & Case LLP advised both Asker and its principal owner, Nalka Invest AB, with a high-profile team of partners, including Johan Thiman and Johan Steen in Stockholm and Mikko Hulkko in Helsinki.
Meanwhile, Baker McKenzie represented the IPO’s joint global coordinators and bookrunners, reinforcing the complex transaction’s legal backbone.
A European Healthcare Powerhouse
Over the last decade, Asker Healthcare has evolved into a dominant force in the European healthcare sector, with a network of more than 45 companies across 17 countries and a workforce of 4,000 employees.
Founded in 2009, Nalka Invest focuses on mid-sized companies in the Nordic region and central European markets, including Germany, Austria, and Switzerland.
Market Reaction: A Bright Spot Amid Uncertainty
The IPO exceeded expectations, with Asker’s shares jumping to 82.5 kronor by Thursday afternoon, an 18% rise from the initial 70 kronor pricing. The surge reflects investor optimism despite global market volatility.
However, Dealogic data suggests Europe’s IPO landscape remains rocky, with geopolitical risks, particularly U.S. trade policies, creating headwinds. European IPO volumes in Q1 2025 stood at just $4.9 billion, a steep decline from $12.4 billion in Q4 2024.
