Goldman Sachs’s ISS Said to Get Demand for All Shares in IPO

ISS Holding A/S has demand for all the shares being sold in an initial public offering valuing the cleaning company at as much as 31.7 billion kroner ($5.8 billion), according to two people with knowledge of the matter.

ISS, whose owners include Goldman Sachs (GS) Capital Partners and EQT Partners AB, sent a message on demand for the sale to institutional investors, the people said, asking not to be identified while the transaction is on. The company set a price range of 140 to 175 kroner a share on March 3.

ISS, based in Soeborg, Denmark, said on Feb. 18 it would raise 8 billion kroner to repay debt. The IPO, the largest in Denmark in 20 years, comes amid a revival in investor interest in Europe, where the volume of initial sales approximately doubled in 2013, compared with the previous year, data compiled by Bloomberg show.

The offering will also include shareholders Goldman Sachs and EQT selling some of their stakes. Nordea Bank AB, Goldman Sachs Group Inc. and UBS AG are joint global coordinators, ISS said. Lazard is acting as financial adviser to ISS.

ISS shares are worth buying at 155 kroner, equivalent to a valuation of 29 billion kroner, Sydbank A/S said in a note to clients today. ISS will announce the final share price no later than March 17.

To contact the reporter on this story: Ruth David in London at rdavid9@bloomberg.net

To contact the editors responsible for this story: Jacqueline Simmons at jackiem@bloomberg.net Christian Wienberg, Kati Pohjanpalo

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