DJ Nordic Paper Seeks Stockholm IPO
By Dominic Chopping
STOCKHOLM--Nordic Paper Holding AB, a producer of speciality paper, Monday announced its intention to proceed with an initial public offering and listing of the company's shares on Nasdaq Stockholm.
The offering is expected to consist of existing shares held by the principal owner, Chinese paper-products manufacturer Shanying International Holding Co., Ltd., offered to institutional investors in Sweden and abroad as well as to the general public in Sweden.
Depending on market conditions, the IPO and listing on Nasdaq Stockholm is expected to be completed in 2020. Shanying will retain part of its holding in Nordic Paper after the IPO.
Nordic Paper traces its history back to the late 1800s and produces specialty paper through four production sites in Sweden.
It has 619 full time employees and approximately 700 customers in 70 countries. Close to 95% of the company's manufactured paper is exported.
It reported annual net sales of 3.23 billion Swedish kronor ($361.6 million) in 2019 with an earnings before interest, tax, depreciation and amortization margin of 19.5%.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
October 05, 2020 02:37 ET (06:37 GMT)
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