SBB falls after it sets terms for IPO of residential unit

Samhallsbyggnadsbolaget I Norden AB

07/10/2024 09:21

** Shares in debt-laden real estate company SBB  SBBb.ST 
fall 5% after the Swedish landlord set the terms for the IPO and
listing of its residential unit Sveafastigheter
    ** SBB will offer maximum 88 mln Sveafastigheter shares,
corresponding to 44% of shares in the unit, at SEK 39.5-45.5 per
share 
    ** This values Sveafastigheter at SEK 7.9-9.1 bln ($761.5
mln-$877.2 mln), the unit says
    ** "SBB did not get very well paid for Sveafastigheter in
their IPO. About 60% of the net asset value only," Carlsquare
analyst Bertil Nilsson says
    
($1 = 10.3737 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))