By Dominic Chopping
Nordic construction group Sentia intends to apply for a listing on Euronext Oslo Bors as it seeks to increase its visibility, broaden ownership, and improve access to capital markets.
Majority shareholder Ratos will offer shares in connection with the listing, targeting a reduction in its ownership to below 50% from around 72% currently, while no other shareholders will sell shares in the offering, it said Monday.
Sentia builds large projects such as commercial buildings, hospitals, universities and cultural centers for public and private clients. It has operations in Norway and Sweden, employing around 1,400 employees, and recorded revenue of 10.6 billion Norwegian kroner ($1.05 billion) in 2024.
Four cornerstone investors have undertaken to acquire and be allocated shares for a total amount of 670 million kroner in the offering, for a price per share of up to 50 kroner, which is equivalent to an equity value of the company of around 5 billion kroner.
In conjunction with the offering, DNB Asset Management will acquire a 7% stake in the company for 350 million kroner, Arctic Asset Management will acquire a 2.4% stake for 120 million kroner, and Amundsen Investment Management and TIND Asset Management will both buy a 2% stake for 100 million kroner.
Full terms will be published later in a prospectus.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
May 26, 2025 03:01 ET (07:01 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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