EQT eyes PLN 200m HTL-Strefa listing
Swedish GP EQT has said it will list Polish medical devices maker HTL-Strefa on the Warsaw stock exchange by the end of October, offering a primary tranche of new shares worth around PLN 200m.
The primary tranche will consist of newly issued shares and be used to repay part of HTL's existing debt, in conjunction with other funds, while the existing shares held by EQT will also be floated. Following the IPO, the company is expected to have a free float in excess of 50%.
JP Morgan has been mandated to run the process, acting as sole global coordinator and joint bookrunner alongside Pekao Investment Banking, UniCredit and Dom Maklerski mBanku.
HTL's offering will be made available to institutional and retail investors in Poland, as well as some international institutions.
The exit will come six years after the GP acquired 99.5% of the shares in HTL-Strefa in a buyout made through its 2006-vintage €4.25bn EQT V fund.
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