Kalpataru Expects SEK712 Million From Stockholm IPO of Unit
MT Newswires Live
Sep 25
Kalpataru Projects International (NSE:KPIL, BOM:522287) said its Swedish engineering, procurement, and construction subsidiary, Linjemontage i Grästorp AB, will make its debut on Nasdaq Stockholm on Friday, according to a same-day filing with the bourse.
The company said it will offer up to 16.5 million shares, through a sale by selling stockholders, the exercise of overallotment options, and a sale by employees or directors, at 46 Swedish kronor apiece and expects to raise gross proceeds of 711.5 million Swedish kronor.
If the IPO is fully subscribed, Kalpataru's stake in Linjemontage will be reduced to 65.93% from 96.12%.
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