Engcon soars on stock market debut

Engcon AB

17/06/2022 08:44

** Engcon  ENGCONb.ST  shares open at Nasdaq Stockholm at
SEK 53 per class B share, over 15% higher than the IPO price of
SEK 46
    ** The Swedish company is a heavy machinery manufacturer,
specialising in excavator tools
    ** The offering comprised of 45.5 mln existing class B
shares (incl overallotmet option), corresponding to
approximately 30% of the total number of shares in the company
    ** The price in the offering set Engcon total market value
at about SEK 7.0 billion ($688.5 million)
    ** The shares trade at SEK 57.78 at 0744 GMT


($1 = 10.1676 Swedish crowns)

 (Reporting by Agata Rybska)
 ((agata.rybska@thomsonreuters.com))