- The principal shareholders in Lindab International AB ("Lindab") have decided to offer for sale to investors up to 50 % of the shares in Lindab (equivalent to a maximum of 39,353,910 shares) in an Initial Public Offering. The base offering constitutes up to 45% of the shares in the company (35,418,519 shares) and an over-allotment option of up to an additional 5% of the shares in the company (3,935,391 shares) has been granted by certain of the principal shareholders.
- The price range for the offering has been set at SEK 93 - 110 per share
- The application period for both retail and institutional investors commences on November 20 and ends, in respect of retail investors on November 29 and in respect of institutional investors on November 30, 2006.
- The final price is expected to be announced and trading of the shares on the Stockholm Stock Exchange is expected to commence on December 1, 2006.
Lindab, based in southern Sweden since 1959, is today a leading developer, producer, marketer and distributor of steel sheet and steel-based construction systems and products in Europe. The company's systems and products are designed to simplify construction of industrial, commercial and residential properties. Lindab's business is divided into two business areas - Profile and Ventilation.
Lindab's Profile business area offers steel-sheet based building components and complete steel building systems to the construction market. The Ventilation business area offers ventilation components and systems for ventilation installers and building contractors.
Lindab's key markets are the Nordic countries, Central and Eastern Europe and parts of Western Europe. The Ventilation Business area also has manufacturing and sales in the United States. The Lindab Group enjoys a broad customer base and an extensive geographic presence across Europe through a network of approximately 1,700 dealers and 110 branches (including those of the recently acquired British company CCL). Key customer groups for Profile products include construction companies, installers and local building companies. Ventilation customers are generally ventilation installers and building contractors.
In the last twelve months ending September 30, 2006, Lindab's net sales were SEK 7,311 million and EBITA was SEK 834 million (adjusted for certain non-recurring items of SEK 25 million). The EBITA margin thus amounted to 11.4 per cent. The Lindab group employs approximately 4 500 people in its operations in 28 countries.
The Lindab Group was previously listed on the Stockholm and Copenhagen Stock Exchanges. In 2001, Lindab's current principal owners acquired Lindab and delisted its shares. Today, Ratos holds 46 per cent of the shares in Lindab, Skandia Liv holds 23 per cent and the Sixth AP Fund 23 per cent. Of the company shares remaining, former management holds 3%, and members of the board and current management hold 5%.
"Since becoming a privately held company in 2001, we have made many important organisational changes and accomplished significant cost reductions through a more efficient production structure. We have also acquired a number of companies that have been successfully integrated and thereby increased our market penetration particularly within the CEE countries," says CEO Kjell Åkesson.
"We are now ready to return to the stock market as a larger and more profitable company." concludes Kjell Åkesson.
Lindab's Profile business area offers steel-sheet based building components and complete steel building systems to the construction market. The Ventilation business area offers ventilation components and systems for ventilation installers and building contractors.
Lindab's key markets are the Nordic countries, Central and Eastern Europe and parts of Western Europe. The Ventilation Business area also has manufacturing and sales in the United States. The Lindab Group enjoys a broad customer base and an extensive geographic presence across Europe through a network of approximately 1,700 dealers and 110 branches (including those of the recently acquired British company CCL). Key customer groups for Profile products include construction companies, installers and local building companies. Ventilation customers are generally ventilation installers and building contractors.
In the last twelve months ending September 30, 2006, Lindab's net sales were SEK 7,311 million and EBITA was SEK 834 million (adjusted for certain non-recurring items of SEK 25 million). The EBITA margin thus amounted to 11.4 per cent. The Lindab group employs approximately 4 500 people in its operations in 28 countries.
The Lindab Group was previously listed on the Stockholm and Copenhagen Stock Exchanges. In 2001, Lindab's current principal owners acquired Lindab and delisted its shares. Today, Ratos holds 46 per cent of the shares in Lindab, Skandia Liv holds 23 per cent and the Sixth AP Fund 23 per cent. Of the company shares remaining, former management holds 3%, and members of the board and current management hold 5%.
"Since becoming a privately held company in 2001, we have made many important organisational changes and accomplished significant cost reductions through a more efficient production structure. We have also acquired a number of companies that have been successfully integrated and thereby increased our market penetration particularly within the CEE countries," says CEO Kjell Åkesson.
"We are now ready to return to the stock market as a larger and more profitable company." concludes Kjell Åkesson.
Lindab and the principal shareholders have appointed Handelsbanken Capital Markets and Morgan Stanley & Co. International Limited as joint global coordinators and joint book runners for the offering. SEB Enskilda is Co-lead.