Sanitec confirms IPO plans

unquote" reported on the planned listing, which could take place during H1 2014,  back in October.

Nordea and UBS Investment Bank are acting as joint global coordinators and joint bookrunners in the listing process. Carnegie is acting as joint bookrunner and Handelsbanken has been appointed as co-lead manager.

EQT views the listing as an important new phase for Sanitec that could further strengthen the company's public profile after the high-yield bond issuance earlier this year, the firm said in a statement. EQT, Sanitec's main shareholder, will continue supporting the business.

Sanitec's EBITDA has stood at around €100m in the last two years. Similar listed companies trade on the Stockholm Stock Exchange at circa 8.5-9x EBITDA, which could value Sanitec at €850-900m.

EQT acquired Sanitec from BC Partners in February 2011. The Swedish private equity firm reportedly considered selling the company for €1bn in 2011 and hired UBS as advisers.

Based in Helsinki, bathroom ceramics producer Sanitec has 19 production plants mainly in northern and western Europe, as well as in eastern Europe. In 2012, the company's net sales amounted to €752.8m, with an EBITDA of €107.6m and 6,500 employees.

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