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Sanitec set for biggest Swedish IPO in seven years – Reuters

Reuters – Bath and toilet maker Sanitec said on Wednesday its owners would sell up to 4 billion crowns ($608 million) worth of shares in its Stockholm listing, meaning the IPO will be Sweden’s biggest since 2006.

The shares will be offered at between 54 and 66 Swedish crowns each to give the company a stock market value of as much as 6.6 billion crowns.

Sanitec, controlled by Swedish private equity firm EQT, said 40 million shares, or 40 percent of the total, would be offered, but that amount could be increased by 12.2 million shares.

In addition, an over-allotment option of up to 7.8 million shares had been granted, the company said in a statement. The shares will begin trading on Dec. 10.

Sanitec’s IPO is set to the biggest in Stockholm since December 2006, when building components and ventilation firm Lindab was listed.

It is seen as an important test of investor sentiment ahead of further potential private equity-backed IPOs in Stockholm after several years of drought for stock market flotations.

Shares in real estate firm Platzer will begin trading this week in what will be the first IPO on the main list of the Stockholm stock exchange since the first half of 2011, though several times smaller in size than Sanitec’s.

The owners of debt collector Lindorff and candy firm Candyking have also said they may listing those companies. ($1 = 6.5774 Swedish crowns) (Reporting by Sven Nordenstam; Editing by Niklas Pollard and David Holmes)