Sweden's Accent aims for 2013 Candyking listing -sources

STOCKHOLM Thu Sep 12, 2013 11:40am EDT

STOCKHOLM Sep 12 (Reuters) - Private equity firm Accent Equity Partners aims to list confectionery retailer Candyking on the Stockholm stock exchange this year, two people familiar with the matter said on Thursday.

Carnegie and Nordea are financial advisors on the IPO, which could be the first on Sweden's main list since mid-2011 and would value the company at more than 2 billion crowns ($307 million) on a debt-free basis, the people said.

Candyking CEO David von Laskowski confirmed the choice of advisors but declined to comment on valuation and the exact timing of the planned IPO.

One person close to the process said the listing would likely happen toward the end of 2013 but cautioned that it might also take until early next year.

Accent Equity Partners, founded in 1994 and focused on mid-sized Nordic companies, declined to comment, as did Nordea and Carnegie.

Sweden-based Candyking had sales of 1.75 billion crowns in 2012 and an EBITDA profit of 140 million according to the website of private equity firm EQT, which owns a 15 percent stake in Candyking.

Accent bought Candyking in 2008. The company was founded in 1984 and sells around 45 million kg of confectionery annually, mainly in the Nordics and the United Kingdom.

Bankers expect more Swedish IPOs in 2014 as stock market volatility has eased and valuations have risen, making a listing more attractive.

The Stockholm OMXS30 bluechip index has climbed 15 percent this year, outperforming the FTSEurofirst300 index which is up 10 percent.

($1 = 6.5237 Swedish crowns) (Reporting by Sven Nordenstam; editing by David Evans)

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