Shares of Verisure, a security services group, surged 13% on their debut day of trading on the Stockholm bourse, marking a significant milestone as the largest initial public offering (IPO) in Europe since 2016. As trading commenced, Verisure’s shares opened at €15.00 per share, well above the offering price set earlier that day at €13.25, which had valued the company at approximately €13.7 billion (about $15.9 billion).
The successful float of Verisure comes during a resurgence in the IPO market in Europe, which had seen a slow first half of the year. This period was characterized by multiple listings being shelved due to global trade tensions and escalating concerns over geopolitical conflicts, particularly in the Middle East.
Verisure, previously a division of Sweden’s Securitas, originally entered the market in 2006 under the name Securitas Direct. It is currently majority-owned by U.S. private equity firm Hellman & Friedman. On announcing the IPO, the company expressed its ambition to raise around €3.1 billion through the sale of shares on Nasdaq Sweden.
Investor interest in the offering was robust, with Verisure stating that it was “multiple times oversubscribed.” The IPO garnered significant attention from institutional investors both in Sweden and internationally, alongside substantial interest from the general public.
Verisure indicated that if the overallotment option is fully exercised, the total proceeds from the IPO could reach approximately €3.6 billion. This reflects a strong endorsement of the company’s market position and future prospects in the security services sector.
