EQT’s XXL valued at NOK 8.65bn ahead of IPO

EQT, Dolphin Management and other shareholders plan to sell between 12.3% and 27.5% of the XXL shares, but also intend to raise nearly NOK 1.2bn by issuing new shares in the IPO announced earlier this month.

The valuation puts the share price range at NOK 45-65 with between 15.5 million and 31.5 million shares being offered up.

According to the prospectus, XXL's expected free float will be at least 27.5% of the share capital, with options to increase to as much as 43.1% including an overallotment option.

The Swedish GP will be subject to a six-month lock-up period, while the remaining investors will face a lock-up of 12 months.

Bookbuilding is expected to begin at 3pm on 7 October.

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