Rezidor swelled the ranks of Europe’s listed hotel operators last week, making a debut on the Stockholm stock exchange at a price towards the top of the range at SEK52 per share.
Despite the offer being nine times oversubscribed, there has been a modest slump in the price initially before a slight rally yesterday.
The float price gives Rezidor a market capitalisation of SEK7.8bn (Eu860m) with its former parent netting SEK5.7bn from selling its 75% shareholding.
The listing attracted significant non-Swedish interest with three-quarters of the shares now in the hands of non-Swedes.
Rezidor is in the consumer discretionary sector of the OMX Nordic Exchange in the mid-cap segment.