OW Bunker plans Copenhagen IPO of up to 5.5b kroner

[COPENHAGEN] Danish ship fuel supplier OW Bunker is aiming for a stock market value of up to 5.5 billion kroner (S$1.3 billion) when it becomes the latest Scandinavian firm to take advantage of buoyant equity markets to list its shares.

The firm, which plans to complete its initial public offering (IPO) and listing in Copenhagen by April 2 at the latest, said on Tuesday that it hoped to raise 110 million kroner from selling new shares, in part to pay down debt.

Main shareholder private equity company Altor could also raise as much as 3.2 billion kroner if it sells the maximum amount of shares under consideration at the top price.