Swedish online retailer Bygghemma to list shares in Stockholm
14/03/2018 14:07
STOCKHOLM, March 14 (Reuters) - Swedish online DIY and home
furnishing retailer Bygghemma Group First said it planned to
list on the Stockholm bourse on March 27, valuing the company at
up to 5.35 billion crowns ($652 million).
The company, which sells its products in Sweden, Finland,
Norway and Denmark, is owned by private equity firm FSN Capital.
In the initial public offering it will issue up to 7
million–7.8 million new shares and FSN Capital will sell
22.2–22.3 million existing shares, Bygghemma said in a statement
on Wednesday. It expects the share price to be set within a
range of 45-50 crowns, it said.
Assuming an offer price in the middle of the offer range and
a full exercise of an overallotment option, FSN Capital would
own around 44 percent of the group following the listing,
Bygghemma said.
Danish pension company Arbejdsmarkedets Tillaegspension
(ATP) and Swedish investment firm Creades CREADa.ST have
agreed to buy up to 5.6 million shares in Bygghemma for around
250 million crowns subject to certain conditions, Bygghemma
said.
The indicated share price range would value Bygghemma at
between 4.85 billion and 5.35 billion crowns, the company said,
adding that it expects the sale of new shares to bring in gross
proceeds of around 350 million crowns.
"Bygghemma Group has established a leading Nordic platform
and has great potential for both substantial organic and
acquisition-driven growth and improved results in the coming
years," Chairman Henrik Theilbjorn said in a statement.
Last year Bygghemma made an adjusted operating profit before
interest, tax and amortisation of 197 million crowns on sales of
4 billion euros.
($1 = 8.2039 Swedish crowns)
(Reporting by Helena Soderpalm, editing by Anna Ringstrom and
Susan Fenton)
((helena.soderpalm@thomsonreuters.com; +46 8 700 10 15; Reuters
Messaging: helena.soderpalm.reuters.com@reuters.net))