By Dominic Chopping
STOCKHOLM--The principle owners of Nordic infrastructure company
Eltel AB said Monday they intend to launch an initial public
offering in Stockholm during the first quarter of 2015, dependant
on market conditions.
The company said it combines electricity, telecom and IT
networks/services to create intelligent and coherent
infrastructure, known as the Infranet.
Principal shareholders 3i, funds managed by 3i, and BNP Paribas,
as well as shareholders within management, said that a listing will
enable access to capital through the Swedish and international
capital markets and increase recognition and brand awareness of the
company. They will continue to hold significant stakes in the
company following the IPO.
The offering will comprise newly issued shares to reduce and
refinance debt as well as a sale of existing shares. Shares will be
offered to institutional investors in both Sweden and
internationally as well as to the public in Sweden.
BNP Paribas, Morgan Stanley and SEB are acting as Joint Global
Coordinators and Joint Bookrunners and Pohjola Bank is acting as a
Co-Lead Manager.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@WSJNordics
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