Nordic Capital’s FinnvedenBulten IPO back on track

Initial plans to list the company were halted earlier this year following the market turmoil caused by the earthquake in Japan. The share price range has been set at SEK 46-56, which values the company at SEK 990m-1.127bn. Shares corresponding to 54% of the total shares in the company will be available in the offer. If the over-allotment option is fully exercised, this represents 62% of the shares.

Nordic Capital acquired Finnveden in a take private transaction in 2004, which valued the company at approximately SEK 2bn. Finnveden suffered during the financial crisis due to a fall in demand for its products from auto manufacturers. The company generated revenue of SEK 2.6bn in 2010, up from SEK 2.04bn in 2009. Operating profit increased to SEK 114m following a loss of SEK 147m in 2009.

Handelsbanken and Carnegie are the financial advisers involved in the process.

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