Swedish confectionery retailer Candyking along with its shareholders, have decided to list the pick and mix manufacturer in Stockholm.
The company said late last week that it would sell shares worth up to 830 million Swedish crowns (€93 million) in its initial price offering at the Stockholm bourse.
Candyking, owned by private equity firm Accent Equity Partners, said in a statement the offering comprised up to 18.5 million shares with the price expected to range between 27 and 32 crowns per share.
Based on the price range of the offering, Candyking’s shares were valued at between 994 million and 1.045 billion crowns, the company said.
Candyking said the offering could be increased by up to 8.2 million shares while its joint lead runners and bookrunners, Carnegie and Nordea, had been granted an option to buy an additional 4 million shares to cover any over-allotment.
If both options were utilised in full, the value of the offering would total 830 million crowns, the company said. Candyking said it expected to begin trading on the Stockholm stock exchange on 12 Dec.
Sweden-based Candyking had sales of 1.75 billion crowns in 2012 and an EBITDA profit of 140 million according to the website of private equity firm EQT, which owns a 15% stake in Candyking.
© 2013 - European Supermarket Magazine by Enda Dowling
