Comprehensive M&A data with integrated detailed company information
EQT could raise EUR 1bn in IPO: Reuters
Posted on Thursday, 07 February 2019 12:04
A quarter of EQT Partners could go on the block in an initial public offering (IPO) in Stockholm that could fetch up to EUR 1.00 billion in the latter part of 2019, sources with knowledge of the matter told Reuters. The people cautioned the private equity house is still weighing different options, including whether to kick off a listing, which could come as soon as the second quarter but is more likely to hit the markets in the third quarter of this year, EQT could garner a valuation of EUR 4.00 billion, should it decide to pursue a first-time share sale comprising a 25.0 per cent stake, the sources added. When contacted by Reuters, Marcus Brennecke, partner and co-head of the private equity group’s advisory team, said a listing or “something else” could be on the card this year, as long as market conditions allow. He also confirmed EQT has brought on board JPMorgan and SEB of Sweden to help handle a review, and in so doing has confirmed a report by Bloomberg in January regarding the hiring of the two advisors. In September last year, then managing partner and chief executive Thomas von Koch announced the buyout group would start evaluating options to further strengthen its balance sheet to support continued growth globally on a long-term sustainable basis. While Koch did not reveal further details at the time, it was thought possible deals could include an IPO or the introduction of an external investor, though a source told Bloomberg a sale was not on the cards. According to the website, EQT has average annual sales and earnings before interest, tax, depreciation and amortisation growth of 10.0 per cent and 11.0 per cent, respectively. The group has offices in 14 countries on three continents, “with a strong trajectory for further international expansion”, and has more than EUR 50.00 billion in raised capital, invested in 210 companies and carried out 105 exits.