Intea Fastigheter shines in market debut
12/12/2024 09:12
** Shares in Swedish property management company Intea
Fastigheter INTEAd.ST opened at SEK 44.3 per share in their
market debut on Thursday, nearly 11% above the IPO price
** Intea on Wednesday said interest in the offering was very
high and it was oversubscribed several times
** In the offering, the price per class B share was set at
SEK 40.00 versus the initial price range SEK 38.00-40.00,
corresponding to total value of SEK 2.44 billion for B shares
** "Given that Intea's capital structure includes bond loans
and that its property portfolio is geographically diversified,
this is a surprisingly good price," Carlsquare analyst Bertil
Nilsson says
** Intea's interest coverage ratio is 239%, which Nilsson
says is "positive"
** At 0910 GMT Intea B shares trade at SEK 45.9
(Reporting by Vera Dvorakova)
((vera.dvorakova@thomsonreuters.com))