Verdane-backed e-retailer Desenio to list in Q1

The company expects to achieve a valuation of around SEK 11bn (€1.1bn) through the listing.

The proposed exit comes four years after Verdane acquired a 50% stake in the company in January 2017 for around SEK 125m (€12.4m). The GP said in a statement that the listing will support Desenio's future growth and operational strategy. 

The listing is expected to be completed during the first quarter of 2021. The private placement will be conducted through a sale of existing shares offered by the selling shareholders.

Cornerstone investors, including Capital Research Global Investors, Capital World Investors, Cliens Kapitalförvaltning, DNB Asset Management, Fidelity International, Handelsbanken Fonder, Kuvari Partners, Lannebo Fonder and Ophir Asset Management have undertaken to acquire shares worth around SEK 3.2bn (€318.5m).

Founded in 2010 and based in Stockholm, Desenio is an online retailer of wall art, frames and accessories in 35 countries via 20 local websites. In 2020, it had pro forma revenues of SEK 1.3bn and EBITDA of SEK 341m.

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