Kalpataru Subsidiary LMG Lists on Nasdaq Stockholm
Kalpataru Projects International Ltd (KPIL) announced the Initial Public Offering (IPO) of its first-level step-down material subsidiary, Linjemontage i Grastorp AB (LMG), on Nasdaq Stockholm. The IPO involves an offer for sale by existing shareholders, including KPIL's subsidiary Kalpataru Power Transmission Sweden AB (KPTS), and employee/director shareholders. The total size of the offering is up to 16,458,363 equity shares at SEK 46 per share, representing approximately 32.1% of LMG's total shares. KPTS will sell 13,319,670 shares in the base offering and up to 2,146,743 additional shares subject to the over-allotment option. Upon full exercise of the over-allotment option, KPTS's stake in LMG will reduce from 96.12% to 65.93%. The offering includes a stabilization mechanism using up to 15% of the total offering shares.
Key Highlights
- LMG, a subsidiary of Kalpataru Projects, has listed on Nasdaq Stockholm.
- The IPO size is up to 16,458,363 shares at SEK 46 each.
- KPTS, a KPIL subsidiary, is a major selling shareholder.
- KPTS's stake in LMG will decrease to 65.93% post-offering.
- The offering includes a green shoe option for price stabilization.
Price Impact
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