XXL ASA, a Norwegian sports retailer, said it will sell shares in an initial public offering on the Oslo bourse as it expands across the Nordic region.
The offering will comprise of a sale to retail and
institutional investors in Norway and a private placement to
certain institutional investors internationally, XXL said in a
statement. Shareholders will reduce their ownership while
Dolphin Management and EQT Partners AB will remain “important”
shareholders after the transaction, the company said.
“We’re proud of our strong track record of growth in
revenue and profits and that our retail concept has proven
successful not only in Norway but also in Sweden and most
recently in Finland,” Fredrik Steenbuch, XXL’s chief executive
officer, said in a statement. “We look forward to offering new
shareholders the opportunity to join us in realizing our
ambition to become the biggest sports retailer in the Nordics.”
The company has raised its revenue to 4.01 billion kroner
in 2013 from 2.47 billion kroner in 2011, it said in the
statement. XXL was founded in Norway in 2001, expanded into
Sweden in 2010 and opened its first store in Finland in April.
ABG Sundal Collier Norge ASA and Goldman Sachs Group Inc.
are acting as joint global coordinators and joint book-runners
in the IPO. Carnegie and Credit Suisse are also joint book-runners and DNB ASA (DNB) is acting as joint lead manager.
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Mikael Holter in Oslo at
To contact the editors responsible for this story:
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