Verisure targets $16 billion valuation in planned IPO

The company expects to begin trading on the Nasdaq Stockholm on October 8

Switzerland-based security services company Verisure is targeting a valuation of up to €13.9 billion ($16.29 billion) in its planned initial public offering (IPO) in Stockholm, it said on Monday.

The company announced on September 17 that it aims to list on Nasdaq Sweden and raise €3.1 billion in what could be one of Europe’s largest initial public offerings in years.

This IPO is on track to be the largest in Europe since carmaker Porsche raised around €9.4 billion in 2022, according to data from LSEG Refinitiv.

The company expects to begin trading on the Nasdaq Stockholm on October 8.

Verisure plans to sell new shares at a price between 142 and 153 Swedish crowns, it said in its prospectus published on Monday, valuing the group at between €12.9 billion and 13.9 billion.

Proceeds from the offering will be used to reduce debt and fund the acquisition of ADT Mexico, as Verisure aims to maintain an annual growth rate of 10%, the company has said.

The offering will also provide the existing investors and the management shareholders with the opportunity to monetise part of their investment, it said in a statement.

Verisure, created in 1988 as a unit of Swedish security group Securitas, was first spun off and went public in 2006 as Securitas Direct. The alarm systems provider is now majority-owned by U.S. private equity firm Hellman & Friedman.

The float comes amid a broader revival in Europe’s IPO market after a sluggish first half of the year, when several listings were pulled due to trade tensions and concerns over escalating conflict in the Middle East.