* IPO priced at 160 DKK
* Rise reflects discount in offer price - analyst
* IPO price gives market cap of almost 30 bln DKK (Adds opening share price, analyst quotes)
By Teis Jensen
COPENHAGEN, March 13 (Reuters) - Shares in Danish outsourcing company ISS jumped by more than 15 percent from the offer price after they returned to the Copenhagen stock market on Thursday.
The cleaning and catering group, one of the world’s biggest private employers with more than 530,000 employees around the world, is the largest company to launch an initial public offering (IPO) in Denmark since telecoms operator TDC listed in 1994.
The offering was priced at 160 Danish crowns ($29.81) per share, just above the middle of the given range of 140-175 crowns, but the shares jumped to 179 crowns just after the market opened. By 0956 GMT they had climbed to 184.50 crowns, up 15.3 percent.
“The rise reflects that ISS has given a discount in the offer price to give investors a good experience, and that is exactly what they got this morning,” Sydbank analyst Soren Lontoft Hansen told Reuters.
ISS, which competes with the likes of France’s Sodexo and Britain’s Compass Group, has large international contracts with companies including Barclays , Hewlett-Packard, Citigroup and Novartis .
More than 50 million new shares were issued on Thursday, with an additional 1 million existing shares placed by Goldman Sachs and Swedish private equity firm EQT.
The offering amounted to 8,196 million crowns, potentially rising to 9,425 million crowns if an overallotment option is exercised in full. ISS has said it will use the proceeds to repay debt.
The offer price, representing a market capitalisation of 29.6 billion crowns, had been welcomed by analysts.
“I had expected a market capitalisation between 29 billion and 37 billion crowns after the IPO, so it is pretty much in line,” Sydbank’s Hansen said.
Alm Brand Bank analyst Michael Friis Jorgensen described the offer price as “attractive”.
Funds managed by EQT and Goldman Sachs delisted ISS after they bought the business for 22.1 billion crowns in 2005.
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.
A previous plan to list ISS in 2011 was dropped because of shaky stock markets and an agreed 5.2 billion pound ($8.69 billion) bid by security services group G4S was abandoned in November 2011 after resistance from the British company’s shareholders.
Nordea, Goldman Sachs and UBS were global coordinators for the ISS offering and joint bookrunners alongside Barclays and Morgan Stanley. Carnegie, Danske Bank and SEB were co-lead managers. ($1 = 5.3672 Danish Crowns) (Additional reporting by Shida Chayesteh; Editing by David Goodman)