Swedish access company Alimak priced its Initial Public Offering at SEK93 a share when trading started on Nasdaq Stockholm today (17 June).
The figure was close to the upper end of the indicative price range of SEK80-95 and reflected a market capitalisation of the company’s shares at SEK4 billion.
Alimak said the offering had been over-subscribed many times.
CEO Tormod Gunleiksrud commented: “We are very happy and proud of the significant interest shown in the company from institutional investors and from the general public.
“The large demand from high quality investors both in Sweden and internationally is a confirmation of Alimak’s development before today as well as our strategy going forward.
“We are very much looking forward to running Alimak as a listed company.”