Findexa set for flotation

Findexa, the Norwegian directories business, is being lined up for a listing on the Oslo Stock Exchange. It has been estimated that the enterprise value of the IPO could be as much as Nkr 9bn (E1.1bn). The flotation would provide a partial exit for Texas Pacific, the US private equity group that acquired Findexa from Telenor for Nkr 5.8bn in 2001. According to press reports, the value of the offer, which will consist of new and existing shares, is expected to be around Nkr 3.5bn. CIBC World markets, Goldman Sachs and UBS Investment Bank are coordinating the flotation. The lead managers are ABG Sundal Collier and Enskilda Securities.

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