Verisure Set to Make Waves in European Stock Market with €13 Billion IPO
Verisure, a leading security firm, is set to make waves in the stock market today with its Initial Public Offering (IPO). The company aims to be valued between €12.9 billion and €13.9 billion, with shares priced between €12.25 and €13.50. The first trading day is expected on October 8, on the Nasdaq Stockholm.
Verisure's IPO is targeting gross proceeds of €3.1 billion, with a potential free float of around 23.5%. The company has experienced remarkable growth, tripling its customer base and quadrupling its revenue from 2014 to 2024. Its adjusted EBITDA has also seen a significant increase, quintupling over the same period.
The IPO market in Europe is showing signs of recovery, with Verisure and Ottobock planning listings. The sale of shares involves issuing new shares and selling existing shares by management shareholders. Alba and Securholds plan to increase their stake by around €236 million. Morgan Stanley has agreed to take up an option to purchase up to a maximum of 15% of the total number of shares in the offer, to cover oversubscription.
Verisure's IPO is poised to bring an interesting new value to the stock market today. With its impressive growth and strong financials, the company is set to make a significant impact as a publicly traded entity.
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