Ratos, Bonnier to Sell Majority of Bisnode in IPO

Ratos AB (RATOA) and Bonnier AB plan to sell a majority stake in Bisnode AB, a Swedish publisher of business news, in an initial public offering this month for as much as 2.58 billion kronor ($403 million).

The companies plan to sell as much as 54 percent, or as many as 61.5 million existing shares and 9.7 million new shares, for between 31 kronor and 37 kronor apiece, Ratos AB (RATOB), the private- equity firm that controls Stockholm-based Bisnode, said today in a statement. Of the 61.5 million shares, 8 million are set aside for an over-allotment option.

``The final price decides the number of new shares that will be issued,'' Emma Rheborg, head of investor relations at Ratos, said today in an interview. ``If it ends on 37 kronor a share we will only sell 8.1 million shares and if it is 31 kronor the number of new shares will be 9.7 million.''

Bisnode runs Swedish news agency Direkt, sells consumer reports and publishes trade magazines. Ratos acquired an 80 percent stake in Bisnode in 2005 from closely held Bonnier, which kept the remaining shares. Ratos now holds a 70 percent stake. After the IPO, Ratos will own about 31 percent of the shares and Bonnier will hold 13 percent, Svenska Handelsbanken AB, which is coordinating the sale, said on its Web site.

The sale values Bisnode at between 3.7 billion kronor and 4.8 billion kronor, Rheborg said.

Bisnode's shares are scheduled to start trading at the Stockholm Stock Exchange on Oct. 30.

To contact the reporter on this story: Janina Pfalzer in Stockholm at jpfalzer@bloomberg.net

To contact the editor responsible for this story: Malcolm Fried at mfried@bloomberg.net

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