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Investing.com -- Swedish security-services provider Verisure is seeking a market capitalization of up to 13.9 billion euros ($16.27 billion) for its upcoming listing on the Nasdaq Stockholm, positioning it to become Europe’s largest initial public offering since 2022.
The company announced Monday that it has set a price range of 12.25 euros to 13.50 euros per share for the IPO, which would value the firm between 12.9 billion and 13.9 billion euros.
Verisure plans to issue 245 million new and existing shares, with an overallotment option that could increase the total offering to 279.1 million shares. If fully exercised, the offering could raise as much as 3.6 billion euros.
This IPO is on track to be the largest in Europe since carmaker Porsche raised approximately 9.4 billion euros in 2022, according to data from LSEG Refinitiv.
The company expects to begin trading on the Nasdaq Stockholm on October 8.
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