Accent's Candyking sets IPO price range

Karin Wasteson
29 November 2013

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Swedish confectionery retailer Candyking, backed by Accent Equity Partners, will sell shares worth up to $127m in its upcoming IPO.

Candyking's offering will comprise up to 18.5 million shares and the price is expected to range between SEK 27-32 per share. Based on this pricing, the company would be valued at between SEK 994m-1bn. The offering could be increased by up to 8.2 million shares.

Candyking is expected to begin trading on the Stockholm Stock Exchange on 12 December. Carnegie and Nordea are acting as joint bookrunners. Accent appointed Fogel & Partners to be responsible for strategic communications at the beginning of this month.

Founded in 1984, pick & mix retailer Candyking trades under the Karamellkungen brand in Sweden. The company is present in the Nordic region, the UK and Ireland, and has operations in Poland, the Czech Republic, Slovakia and Hungary.

The firm generates 52% of its sales in Sweden, 12% in Norway, 12% in Denmark, 11% in the UK, 11% in Finland and the remaining 2% in other markets. Candyking's brands include Candyking, Karamellkungen, Premiyum, Candyking Favourites and Parrot's.