Sweden-based Catella Property Consultants is considering a stock market flotation within the next two to three years.
The pan-European property consultancy, which operates from 12 countries including the UK, is to appoint an investment banker to explore its flotation options.
Catella’s chief executive Stefan Lennhammer confirmed that the move is in line with the companys policy on transparency. “Catella is a transparent structure and we believe in full information for everyone,” he said. Catella owns stakes of at least 75% to 80% in all its European companies.
Lennhammer said a flotation would draw the company into one structure in an efficient manner. He acknowledged that this move would raise capital for the company but denied that this was the main reason for the move. “It is not just about capital as we have Ikea as our owner and this is not a good investment story,” he said. Instead, Catella plans to open up shareholdings to staff
Catella also wants to explore market positioning for its listed vehicle and where the listing should take place. The company does not see itself as a pure property consultancy, believing its expertise comes from both the property and financial markets.
Last year, Catellas corporate finance department advised Merita Nordbanken on its sale of Aleskia Plc to Finnish institution Illmarinen. The division has also initiated two offers for publicly listed companies in Sweden.
