Scandic Hotels Group Publishes Prospectus and Price Range for IPO
Scandic Hotels Group has published its prospectus and a price range for its initial public offering (IPO) on Nasdaq Stockholm. The company aims to use the listing to fuel further expansion.
Scandic Hotels Group announced on November 17, 2015, that it has published a prospectus and set a price range for its planned initial public offering (IPO) on Nasdaq Stockholm. The hotel chain aims to leverage the listing to accelerate its growth across the Nordic hotel market.
The offering's price range has been set between SEK 55 and SEK 69 per share. Scandic anticipates that trading of its shares on Nasdaq Stockholm could commence on December 9, 2015.
"This is a significant milestone in Scandic's history. Becoming a publicly listed company will reinforce our position as the leading hotel operator in the Nordics and provide a strong platform for our continued growth strategy," stated Frank Fiskers, President and CEO of Scandic Hotels Group.
Scandic operates as the largest hotel company in the Nordic region, managing approximately 160 hotels with 30,000 rooms across six countries. Proceeds from the IPO are intended to be used for reducing the company's debt and for general corporate purposes, including potential future investments.