Ratos Seeks $160 Million from IPO of Nordic Construction Unit
Sentia AS, a construction company owned by Ratos AB with projects in Sweden and Norway, filed for an initial public offering in Oslo where it hopes to raise as much as 1.6 billion kroner ($160 million).
Ratos will sell as many as 31.9 million shares in the Nordic builder, including over-allotment, cutting its 72% stake to less than 50%, according to a filing Monday. Cornerstone investors including DNB Asset Management and Arctic Asset Management have agreed to acquire 670 million kroner of stock in the offering at 50 kroner apiece, giving an equity value of about 5 billion kroner.
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