ISS stays strong in face of unrest after pricing forthcoming float
DANISH services firm ISS yesterday ruled out delaying its impending float due to unrest in Ukraine.
The business yesterday said it will float at between 140 and 175 krone a share (£16 to £19.30), which would value the company at about £3.5bn.
The float will take place on the Nasdaq OMX Copenhagen later this month and is expected to raise about £885m, making a profit for backers EQT and Goldman Sachs.
Chief executive Jeff Gravenhorst said: “We’ve evaluated the situation and got good solid feedback. The company is very resilient and has no direct exposure to the Ukraine and Russia.”
He added that the group was raising sufficient funds to deleverage itself.
“We’ve had strong support from investors and are very comfortable with the timing,” he said.