Sweden’s Dometic has set the price in its initial public offering at 48 crowns per share, giving it a market capitalization of 14.2 billion Swedish crowns ($1.64 billion)ahead of its market debut on Wednesday, the company said in a statement.
The price was set above the middle of an initial price interval of 43 to 52 crowns per share, and near the top of a narrower guidance range on Monday of 46 to 49 crowns, for shares in the maker of appliances for caravans and boats, controlled by private equity firm EQT.
Because of its size, the IPO of Dometic may serve as a bellwether for future listings in Sweden, where three more companies, including EQT’s hotel chain Scandic, are scheduled to list before the end of the year.
The value of shares sold, around 5.4 billion crowns including an over-allotment option, means Dometic’s IPO is the third biggest in Sweden in recent years, behind June’s listing of hotel property firm Pandox and last year’s IPO of cable operator Com Hem.
Jefferies, Morgan Stanley and SEB led the offering of Dometic as joint global coordinators.