Link Mobility becomes Europe’s newest unicorn startup

The stock climbed 11% to 52 kroner at 9:24 a.m. in Norway from the 47-kroner sale price of its 6 billion-krone ($653 million) initial public offering. The listing, the largest in the country since silicone producer Elkem ASA’s March 2018 debut, gives Link Mobility a market value of 12.6 billion kroner.

Link Mobility raised 2.5 billion kroner in the share sale, with the rest of the proceeds going to existing holders, including private equity firm Abry Partners. Seven cornerstone investors, including DNB Asset Management and the Government Pension Fund of Norway, took up 2.3 billion kroner, or a third, of the offering.