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Altor-backed OW Bunker could hit $1bn valuation in impending IPO

19 Mar 2014

ship supply logistics containerPrivate equity-backed Danish marine fuel supplier OW Bunker could be valued at up to DKK5.5bn ($1bn) through its impending listing on the Copenhagen bourse.

Altor could raise as much as DKK3.2bn through selling shares at the top price according to Reuters, which said the company itself hoped to raise about DKK110m to help pay down debt.

The company was first reported to be planning an IPO the Copenhagen Stock Exchange in November last year, and is expected to list by April 2.

OW Bunker accounts for about seven per cent of the world’s shipping fuel market, and has set a price range of DKK120 and DKK150 for the public listing.

Reuters said that at the highest price OW Bunker would be valued at 15.8 times 2013 earnings compared with a sector average of 11.8.

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