Sweden’s Bravida to get market value of up to 8.9 bln SEK in IPO: Reuters

Swedish plumbing and electrical systems group Bravida plans to list its shares on Nasdaq Stockholm at a price of between 36-44 Swedish crowns per share, giving it a market value of up to 8.9 billion Swedish crowns ($1.1 billion).

Bravida, controlled by private equity firm Bain, is set to become the second Swedish company after the summer to list on Nasdaq Stockholm. In the first half of 2015, there were twelve IPOs on Stockholm’s main list, the same number as in all of 2014.

Bravida, which supplies electrical, heating, plumbing and ventilation systems across Scandinavia, reported earnings before interest, tax, depreciation and amortisation (EBITDA) of 720 million crowns last year on sales of 12 billion crowns.

Trading in shares is expected to start on Oct. 16.