COPENHAGEN, March 3 Danish outsourcing firm ISS A/S aims to raise 8 billion Danish crowns ($1.5 billion) through an initial public offering (IPO) of stock in March.
The company set a price range of between 140 Danish crowns and 175 crowns on shares in the IPO, putting a value of up to 31.7 billion crowns on the company. The shares will be listed on Nasdaq OMX Copenhagen later in March, the company said in a statement on Monday.
"Since we announced our intention to launch an IPO, we have received very positive feedback from both potential investors and other stakeholders," Chief Executive Jeff Gravenhorst said in the statement.
Private equity company EQT and Goldman Sachs together holds 73 percent of ISS, after the Ontario Teachers' Pension Plan (OTTP) and KIRKBI, which invests funds from the family behind Lego toys, injected 500 million euros ($685 million) for a combined 26 percent stake in 2012.
In connection with the IPO, a partial sell-down of 1 million existing shares will be undertaken by EQT Partners and Goldman Sachs.
Previous plans to list ISS, in 2007 and 2011, were dropped because of shaky stock markets. ($1 = 5.4031 Danish crowns) (Reporting by Ole Mikkelsen; Editing by David Holmes)