Gant to list on stock market
The Local · 13 Mar 2006, 10:46
Published: 13 Mar 2006 10:46 GMT+01:00
Gant is putting some 9.7 million shares on the market, corresponding to 60.5 percent of all the shares in the company. The share price is 141 kronor per share, meaning the flotation is worth around 1.36 billion kronor.
Major shareholder LV Investment will sell some of its 35 percent stake in conjunction with the flotation. LV Investment is the company behind French luxury goods brand Louis Vuitton.
British investment company 3i and co-founders Klas Käll and Staffan Wittmark will also sell some of their holdings.
Chairman and the third founder Lennart Björk, who owns 19 percent of the company, will keep all his shares.
The company announced in a press release that its average yearly sales growth over the last fifteen years has been 19 percent. It also said that the value of orders for its 2006/07 winter collection was estimated to be 1.47 billion kronor, an increase of 14.1 percent on last year.