There has been strong interest in purchasing shares in Lindab, manufacturer of construction and ventilation systems in steel and sheet metal. The offering comprised 35,418,519 shares and was approximately 7 times subscribed. The final offer price of SEK 110 per share corresponds to a total market capitalisation for Lindab of SEK 8,658 million. After completion of the offering, Lindab will have more than 10,000 shareholders.

Lindab's principal owners Ratos, the Sixth AP Fund and Skandia Liv have granted the managers an option, exercisable within 30 days from the first day of trading, whereby the managers can purchase up to 3,935,391 additional shares to cover any over-allotments in the offering.

 

Ratos will remain the largest owner with approximately 22.5 % of the shares and votes (assuming the over-allotment option described above is exercised in full) followed by Skandia Liv and the Sixth AP Fund with 11 % each. Ratos, the Sixth AP Fund and Skandia Liv, have also agreed not to sell any additional shares in Lindab for a period of nine months as from today.

"The investors we have met during the past few weeks have shown strong interest in our business," says Lindab's CEO Kjell Åkesson. "We have always had strong relations with our customers, now we look forward to delivering the results and growth that both our customers and other stakeholders expect."

Handelsbanken Capital Markets and Morgan Stanley & Co. International Limited acted as joint global coordinators and joint book runners for the offering. SEB Enskilda acted as Co-lead managers.