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EQT-backed SSP surges in LSE debut

10 Jul 2014

sspPrivate equity-backed food concessions operator SSP surged in its debut on the London Stock Exchange today.

Shares in the company, which is backed by Nordic private equity firm EQT, climbed to 222 pence in the early hours of trading in London, up from its IPO price of 210 pence per share.

The IPO was priced at the lower end of the indicative range of 200 to 240 pence.

Lats month SSP released its interim results, which showed a 12.6 per cent increase in EBITDA to £54m and a 4.6 per cent climb in sales to £865.8m.

EQT, which bought SSP from Compass Group in April 2006, was expected to sell part of its stake in the IPO.

In May this year the firm exited its minority investment in Swedish confectionery retailer Candyking to Accent Equity Partners.

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