10 October 2014
Gernandt & Danielsson advises the banks in the IPO of Gränges
Gränges AB (publ) (“Gränges” or the “Company”), a leading global supplier of rolled products for brazed aluminum heat exchangers, has on 10 October 2014 announced the outcome of the initial public offering of the Company’s shares and the listing on Nasdaq Stockholm (the “Offering”). The Offering was over-subscribed and attracted strong interest, both from Swedish and international institutional investors as well as from the general public in Sweden and Norway.
The final offering price has been set at SEK 42.50 per share, corresponding to a market value of all shares issued by Gränges of approximately SEK 3.2 billion. The total value of the Offering amounts to SEK 2.2 billion, assuming that the over-allotment is exercised in full.
Carnegie and SEB are acting as Joint Global Coordinators and Joint Bookrunners in connection with the Offering. Danske Bank and Handelsbanken Capital Markets are also acting as Joint Bookrunners. Gernandt & Danielsson is legal counsel to the banks. The Gernandt Danielsson team included Partners Fredrik Palm and Carl Westerberg and Senior Associate Pär Johansson.