EQT Partners AB intends to launch an IPO and list its shares on Nasdaq Stockholm to increase its financial flexibility and enable it to invest in its business and pursue growth opportunities.
The private equity firm's contemplated IPO is expected to comprise an issuance of new shares by the company to raise primary proceeds of at least €500 million and the sale of shares by existing shareholders.
The IPO is expected to encompass roughly 20% of the total number of shares in EQT, including both the newly issued shares and the shares sold by existing shareholders.
Reuters reported Aug. 28 that EQT planned to launch an IPO before the end of September, ahead of the Brexit deadline, and had enlisted JPMorgan and SEB as global coordinators and Goldman Sachs, Morgan Stanley, UBS and Nordea as joint book runners for the offering.
