The company does not issue a new issue regarding the listing, but the offer only consists of shares from existing shareholders. It is expected that the final price in the offer will be set in the range of 95 to 115 SEK per ordinary share, which corresponds to the market value of all common shares listed in the company which is about 9.61 to 11.63 billion SEK.
The final price announcement is expected on April 26th and the first trading day on April 27th.
“We have seen very positive interest in the Hemnet IPO and it is clear that investors are appreciating our scalable business model. Our work in innovation, creating new products and improving the user experience is rewarded with strong growth in both revenues,” says Cecilia Beck-Fries, CEO of Hemnet. And profitability.
The selling shareholders are General Atlantic, Sprints Capital, and Care of Hemnet, as well as a number of other shareholders.
The offer consists of 17.9 million common shares, which is equivalent to 17.7% of the total number of ordinary shares of the company. If the price is set in the middle of the price range and the offer is fully subscribed, then the total value of the bid is approximately SEK 1.88 billion plus a potential over-allotment option.
The subscription period runs from April 19-26.
Morgan Stanley, Carnegie and Citigroup are Hemnet’s primary financial advisors regarding the listing.