Altor prepares to float pharmacy chain Apotek Hjartat


hjartatNordic private equity firm Altor is preparing to float its portfolio company Apotek Hjartat on the Stockholm Stock Exchange after five years of ownership.

Altor said it has hired Carnegie, Handelsbanken and Nordea to advise on the IPO of the pharmacy chain.

Last year Apotek Hjartat reported profits of SEK360m ($53.5m) on revenues of SEK9bn ($1.34bn) and currently has a market share of 25 per cent, according to Altor.

The chain currently has more than 300 pharmacies, up from 206 at the start of 2010.

Earlier this year Altor successfully floated another portfolio company, Danish marine fuel supplier OW Bunker.

The company priced its IPo at DKK145 per share and surged more than 15 per cent on its first day of trading in late Marchy.

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