Sweden's Snigel Plots IPO as European Defense Boom Fuels Growth
Swedish group Snigel AB is weighing a stock market listing the year after next as demand for its tactical military gear hits new heights on the back of Europe's rearmament efforts.
Amid the defense boom, the privately-owned company — which specializes in backpacks and bulletproof vests for elite forces — reached a valuation of about 500 million kronor ($51.9 million) this spring in a funding round that saw eEquity AB become the biggest shareholder.
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