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EQT Partners weighing stock market flotation: FT
Posted on Monday, 10 June 2019 13:03
Swedish buyout firm EQT Partners is considering making its stock market debut and is in talks with investors in what would be a rare move in the private equity market, the Financial Times (FT) reported.

The company has been weighing a possible initial public offering (IPO) for a little under a year as it looks at ways of strengthening its balance sheet.

In April 2019, Bloomberg observed that EQT was working with Goldman Sachs and Morgan Stanley, among other investment banks, advising on a strategic review, which could lead to a listing.

However, at the time, people familiar with the process observed that a sale of a minority stake to an investor was also a potential outcome.

EQT is now leaning more towards an IPO and is reviewing options for growth, sources close to the situation told the FT.

According to these insiders, a listing is expected to take place in Stockholm and is likely to be announced in September, with a view to be publicly-traded by November or December this year.

However, another person cited by the FT added the timing could be different and there is no guarantee of such a transaction taking place.

EQT has EUR 61.00 billon in raised capital, with 29 funds in Europe, Asia and the US and over EUR 40.00 billion in assets under management, according to its website.

Zephyr, the M&A database published by Bureau van Dijk, shows there have been 5 IPOs involving miscellaneous intermediation companies announced in 2019 to date.

Australian buyout group Pegana Private Equity Trust completed its stock market debut on the Australian Stock Exchange in the largest of these, raising AUD 205.03 million (USD 143.47 million) in the process.

South Korea’s Company K Partner, Thailand-based Blue Whale Hospitality Freehold and Leasehold Real Estate Investment Trust, Bulgaria’s VF Alternativ and Sweden-headquartered Teqnion, among others, were also targeted this year.

© Zephus Ltd