STOCKHOLM (Reuters) -Switzerland-based security services group Verisure said on Wednesday it had set the price in its initial public offering on the Stockholm bourse at 13.25 euros per share, valuing the group at 13.7 billion euros ($15.9 billion).
Shares will start trading on Wednesday.
Verisure, which had set a share price interval in the IPO of between 12.25 and 13.50 euros, said in a statement the offering was multiple times oversubscribed.
“The offering attracted strong interest from Swedish and international institutional investors as well as the general public in Sweden,” it said.
The alarm systems maker’s float comes amid a broader revival in Europe’s IPO market after a sluggish first half of the year, when several listings were pulled due to trade tensions and concerns over escalating conflict in the Middle East.
Verisure, initially a unit of Sweden’s Securitas, was first spun off and listed in 2006 as Securitas Direct. Its current majority owner is U.S. private equity firm Hellman & Friedman.
The company unveiled in September it planned to list on Nasdaq Sweden and raise 3.1 billion euros in one of Europe’s largest initial public offerings in years.
It said on Wednesday that if an overallotment option is exercised in full, proceeds of the IPO will total around €3.6 billion.
($1 = 0.8610 euros)
(Reporting by Anna Ringstrom, editing by Terje Solsvik)
