SATS, the Norwegian owner and operator of fitness clubs across the Nordic region, has set a price range on its Oslo IPO that values it at over €450m at the top of the range.
Morgan Stanley, ABG Sundal Collier and Carnegie are global co-ordinators. Swedbank, in cooperation with Kepler Cheuvreux, is a bookrunner.
The post IPO free float will be 55.3%-58.6% of the company, sizing the base deal at Nkr2.4bn-Nkr2.5bn (€240m-€250m).
The company will raise Nkr1.4bn of primary proceeds, of which Nkr470m