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Cint Shares Jump 30% Nasdaq Stockholm Debut

STOCKHOLM, Feb 19 (Reuters) - Shares of Swedish consumer research firm Cint jumped nearly 30% on its debut on Nasdaq Stockholm on Friday, signaling the market for initial public offerings remains strong ahead of upcoming listings later in the year.

Shares rose to 92.50 crowns in early trading, above the offering price of 72 crowns.

The listing, one of the biggest in Sweden in recent years, took Cint’s market valuation to more than 1 billion euros ($1.21 billion) on the day of the listing.

Cint, which provides digital survey-based research and insights to customers such as Omnicom and KPMG saw its net sales grow 37% to about 100 million euros in 2020.

ABG Sundal Collier, Jefferies International and Nordea Bank were joint bookrunners for the IPO.

($1 = 0.8248 euros)

(Reporting by Supantha Mukherjee based in Stockholm; editing by Johannes Hellstrom)

Source: Reuters

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