* Morgan Stanley, SEB to lead Stockholm listing of hotel
* Scandic could be valued at more than EUR 1 bln including
(Adds detail, background)
STOCKHOLM, June 16 Swedish private firm EQT
has picked Morgan Stanley and SEB to
lead a stock market listing of hotel operator Scandic, two
people familiar with the matter said.
The sources declined to be identified because the plans are
not yet public. EQT, which owns 78 percent of Scandic, declined
to comment, as did Scandic and the banks.
Reuters reported in April that EQT had invited banks to
compete for roles in the initial public offering of the largest
hotel operator in the Nordic region, which could value it at
more than 1 billion euros, including debt and take place later
The Nordic IPO market has picked up pace in recent months,
particularly in Sweden, which saw a two-and-a-half-year drought
in its main market that lasted until November last year.
EQT was one of the main stakeholders in the biggest offering
in the Nordics since 2010 when Danish outsourcing firm ISS was
listed in March, and also saw its bathroom firm Sanitec
carry out Sweden's biggest IPO for seven years in
Both shares have strongly outperformed the wider market.
For Morgan Stanley, Scandic represents another high-profile
IPO mandate in the region after it helped take ship fuel firm OW
Bunker to the Copenhagen bourse this year. Morgan
Stanley is also one of three banks to lead the IPO of Swedish
cable operator Com Hem IPO-COM.ST, whose shares are set to
start trading in Stockholm on Tuesday.
It has also been hired to lead the listing of debt collector
Lindorff together with other banks, sources told Reuters in
Scandic had revenue of 913 million euros in 2013 and
earnings before interest, tax, amortisation and depreciation
(EBITDA) of 80 million.
Those figures will be boosted by its acquisition of Norway's
Rica Hotels from the Rivelsrud family this year with 72 hotels,
taking Scandic's total number of hotels to 223. Scandic has not
published separate figures for Rica.
(Reporting by Sven Nordenstam; editing by Niklas Pollard and