Today, September 24 2020, Aberdeen and Norway based Mintra has announced their listing on the Oslo Stock Exchange. The organisation has engaged Pareto Securities AS and SpareBank 1 Markets AS as joint global coordinators and joint bookrunners to advise on and effect a contemplated Private Placement on the Merkur Market. The company will be listed on the stock exchange at a price of NOK1.3bn.
Mintra provide workforce management systems and online training courses for safety critical industries worldwide. Since the beginning of lockdown Mintra has seen a surge in demand for virtual and online delivery of courses and training management support, making this the optimal time for the organisation to be listed.
Mintra aims to be the leading provider of human capital management services to customers with rotating workforces in compliance driven industries. Their vision is to offer a single source solution for companies to identify training needs, choose their preferred training format from a number of providers, then deploy their workforce to any job site in the world.
The funds raised from the stock market listing will be used to achieve these aims.
Scott Kerr, Mintra chief executive officer, said: “The Pandemic has changed how companies look at training and our services are in growing demand. The current market is fragmented so by listing now, reducing debt and raising capital we can assist in consolidating the industry. We will be able to further invest and expand our offering to provide our customers with enhanced products, greater choice and a more efficient process to develop and deploy their employees.”
In addition to the stock market listing Mintra are also announcing the launch of their online training marketplace in the UK.
The marketplace currently offers 2,000 courses from 80 different training providers. Courses include basic safety training suitable for all industries and specialist training designed to meet the needs of the Energy, Maritime, Construction and Manufacturing industries. Mintra has recently been commended by the Scottish Parliament for their COVID-19 courses that offer guidance on how to keep workers safe at home and in the office.
The training marketplace is an open, independent facility, where Mintra act as the curator of training providers and content.
Mintra launched the training marketplace in Norway in 2010. The organisation aims to continue to build on the success they have experienced in Norway and create the largest online, independent portfolio of training courses for safety critical industries worldwide.
In addition to accessing the extensive range of training courses, signing up to the marketplace will also give customers access to their very own Trainingportal, a virtual Training Management System (TMS). Traditionally, training has been split across different providers, which has made keeping track of schedules and certificates challenging. By launching one independent marketplace with a TMS, Mintra is bridging the gap between training providers and training management.
Scott Kerr also commented on the marketplace launch: “We wanted to create an independent marketplace that would offer companies an extensive range of training courses on one platform. The marketplace is known as a ‘meeting arena’ for buyers and sellers of training courses. During the current pandemic we have seen an increase in demand, and we knew it was the right time to launch in the UK and expand the marketplace offering. We are taking an agnostic view and offering customers one central place where they can browse thousands of training courses, both classroom and online. In addition, we are also launching a free Training Management System that will offer customers the convenience of managing all of their training in one place.”
The training course marketplace is available via Trainingportal, Mintra´s industry-renowned learning and competency management system. Existing customers can access the marketplace and TMS free of charge, new customers can sign up to Trainingportal via the company’s website.
The application period for the Private Placement commenced on September 22 2020 at 09:00 CEST and will close on September 25 2020 at 16:30 CEST. The first day of trading on Merkur Market is expected to be shortly after completion of the Private Placement and is currently anticipated to be on or around October 5 2020.