EQT and Accent's Scandic seeks SEK 8bn listing in Stockholm

The Nordic hotel group is scheduled to list on the Swedish stock exchange on 2 December, with its share priced in the range SEK 66-81 per share. Scandic expects to raise around SEK 1.54bn from the IPO.

EQT and Accent's exit comes eight years after the GPs jointly acquired Scandic in a €833m carve-out from the Hilton Hotels Group in March 2007.

Ahead of the IPO, EQT controls 86% of the shares in Scandic through the GP's 2006-vintage €4.25bn EQT V vehicle, while Accent co-invested for 12% through its €250m Accent Equity 2003 fund. Both private equity firms will retain a substantial stake in the hotel group following the listing.

51.7 million shares will be offered in the flotation, provided the 15% overallotment option is used in full.

Swedish family office Provobis has agreed to acquire 5% of Scandic in the offering, with an opportunity to buy a further 2.5% of the shares.

Morgan Stanley and SEB are joint global coordinators and bookrunners in the listing. Deutsche Bank and ABG Sundal Collier are joint bookrunners.

The IPO will be the second EQT asset to float on the Stockholm stock exchange in the space of a week, with the GP planning a SEK 15bn listing of leisure appliances group Dometic on 25 November.

Likewise, Nasdaq OMX Stockholm will have seen a total of three IPOs in the week to 2 December, as IK Investment Partners has scheduled its SEK 8bn listing of Attendo, a Swedish care provider, on 30 November.

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• Topics
• Nordics
• Consumer
• IPO
• Sweden
• EQT
• Accent Equity Partners
• IK Investment Partners