PE-backed Komplett to launch IPO

The company is planning to list on the Oslo Stock Exchange, where it had previously been listed prior to its de-listing in 2011.

Norwegian daily Dagens Næringsliv reported in February this year that Canica CEO Nils Selte had said that the plan to list Komplett was not an exit strategy but rather a way to gain new shareholders and better access to capital. 

The planned flotation comes more than a decade after Canica invested in the company. It held a majority stake in Komplett for several years while Komplett was listed on the Oslo Stock Exchange. In 2008, Canica submitted a NOK 30-per-share takeover offer, which was rejected. Over the next few years, Canica bought small stakes to increase its share until reaching 90.51% in 2011, when Komplett was de-listed. The company was priced at around NOK 1bn before it was de-listed.

ABG Sundal Collier and Skandinaviska Enskilda Banken are the joint global coordinators and joint bookrunners in the IPO, while DNB Markets and Pareto Securities are the joint bookrunnes. Advokatfirmaet Thommessen is acting as legal adviser to Komplett. Zynk is acting as communications adviser to Komplett.

Founded in 2011 and based in Oslo, Komplett is an online retailer of consumer electronics.

The company in 2020 had revenues of NOK 9.9bn (€970.5m) and operating profit of NOK 276m (€27m).

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