XXL Group, NOK 3.0 billion Initial Public Offering, Norway


STJ Advisors acted as independent advisor to EQT on the IPO of XXL ASA, the fastest growing sports retailer in the Nordic region, raising proceeds of c.NOK 3.0bn / €373 million. The IPO priced at NOK 58 per share, above the mid-point of a NOK 45-65 price range, giving the company a market capitalisation of c.NOK 8 billion. The shares traded up c.7% on the first day of trading with turnover at a low c.15% of the offering (significantly less than in other recent EMEA IPOs).

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