SBB Spinoff’s Prudent Boss Plans to Forgo Near-Term Dividend
- Landlord SBB offers 44% of stock in residential unit IPO
- Sveafastigheter’s shares to start trading this Friday
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The executive charged with steering the biggest listed residential property firm in Sweden is not planning to repeat the prior missteps of its majority owner, SBB.
On Friday, Samhallsbyggnadsbolaget i Norden AB — as SBB is formally known — will list as much as 44% of the shares in its housing division, Sveafastigheter AB, via an initial public offering in Stockholm. The move is part of a broader strategy by SBB to detoxify its brand and diversify its investor base after last year’s funding crisis.