Candyking postpones IPO

Two of Candyking's subcontractors – a factory in Skövde, Sweden, and another in the Netherlands – have experienced damaging fires. The fires are expected to affect their Q4 earnings negatively to the tune of SEK 3.5m, a higher figure than the company had initally expected.

In addition to this, the exchange rate is considerably less favourable than last year. According to Candyking's estimates, the negative effect of this will stand at SEK 3m.

Candyking now has to make amendments to the prospectus that was sent out at the end of November, and the trading debut has been postponed until 16 December.

Candyking said in a statement that the IPO had attracted strong interest among investors and that the offering was oversubscribed on the first day of the application period.

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.

 

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• Topics
• Nordics
• Exits
• Sweden
• IPO