Sveafastigheter shares open at SEK 39.40 on market debut, below IPO price

Samhallsbyggnadsbolaget I Norden AB

18/10/2024 09:08

** Shares in Swedish residential real estate group
Sveafastigheter's  SVEAF.ST  open at SEK 39.40 per share on
market debut, vs IPO price of SEK 39.50 per share
    ** The IPO, priced at the bottom of its touted range, gave
the SBB spin-off  SBBb.ST  a market capitalisation of SEK 7.9
billion ($751.8 million)
    ** Carlsquare analyst Bertil Nilsson says he was expecting a
price of SEK 42.50 per share, and notes that even then
Sveafastigheter would be valued low in relation to its NAV
    ** "However, share prices for property stocks have fallen
somewhat in the past week, which could explain the lower opening
price for the stock," Nilsson adds
    ** Sveafastigheter was SBB's second spin-off this year after
the IPO of Norway-based Public Property Invest (PPI)  PUBLI.OL 
in April

($1 = 10.5082 Swedish crowns)

 (Reporting by Elviira Luoma)
 ((Elviira.luoma@thomsonreuters.com))