Private equity firm EQT plans to list Sweden’s Dometic, a maker of appliances for caravans and boats which could be worth more than 20 billion Swedish crowns ($2.35 billion) including debt, in late November, two people familiar with the matter said.
One of the sources said EQT was also planning to list education provider AcadeMedia in the last week of November, shortly after Dometic, and hotel chain Scandic the following week. The people declined to be identified because the plans are not yet official.
EQT and the companies declined to comment.
Dometic could officially announce its listing plans as early as Monday, the sources said.
The listings would add to a record year for initial public offerings (IPOs) in Stockholm. So far this year, there have been 14 IPOs on the main list of the stock exchange, the highest in 15 years, most of which have outperformed the market by a wide margin.
In the year through September, Dometic had adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 1.66 billion Swedish crowns on sales of 11.2 billion.
Scandic Hotels had EBITDA earnings of 951 million crowns in 2014, whereas AcadeMedia made 728 million crowns.
Reuters reported last month EQT had picked banks to lead a listings of Dometic, whereas sources told Reuters last year banks had been picked for a listing of Scandic Hotels. EQT has said it is considering a listing for AcadeMedia but not when.
In a sign of continued investor appetite for new companies even as equity markets have turned more volatile in recent months, the latest Swedish newcomer, Bravida has outperformed Stockholm’s all-share index by 4 percentage points compared to its IPO offer price on Oct. 16.