About a year after first announcing its intentions to launch an IPO for Swedish hotel chain Scandic, EQT Partners and Accent Equity are poised to float stock on Nasdaq Stockholm on December 2.
The company, which operates 224 hotels in seven countries, will come to the market with a value up to SEK8 billion (US$916 million). The final price per share will be set within the range of SEK 66-81 (US$7.56-9.28).
EQT, which owns 86% of Scandic, and Accent, which holds 12%, will sell around SEK1.5 billion (US$172 million) worth of shares. A similar amount will be made available in a primary offering.
EQT and Accent acquired Scandic from Hilton in 2007. The company has a presence across the Nordic region and in Germany, Poland and Belgium.