By Jonas Ekblom

Asker Jumps in Stockholm Debut After Europe’s Biggest 2025 IPO / Bloomberg

(Bloomberg) -- Asker Healthcare Group AB shares surged in their Stockholm debut after the company and its owners raised nearly 8.9 billion kronor ($887 million) in Europe’s largest initial public offering so far this year.

Most Read from Bloomberg

• They Built a Secret Apartment in a Mall. Now the Mall Is Dying.

• Why Did the Government Declare War on My Adorable Tiny Truck?

• How SUVs Are Making Traffic Worse

• Trump Slashed International Aid. Geneva Is Feeling the Impact.

• These US Bridges Face High Risk of Catastrophic Ship Strikes

The stock rose to 81.2 kronor at 9:03 a.m. local time, a 16% increase from the IPO price of 70 kronor per share. The offering gave Asker an implied valuation of 26.8 billion kronor in a deal that accounted for around 33% of the company’s total shares, the group said in a statement on Thursday.

Asker raised about 1.5 billion kronor in new equity, while backers including Nalka Invest AB sold around 7.4 billion kronor in existing shares, it said. The shareholders could raise more than an additional 1.3 billion kronor through an over-allotment option, Asker said

The offering attracted “very strong” interested from Swedish and international institutions, as well as retail investors in the Nordic region, Asker said. The offering was oversubscribed multiple times, it said.

The debut is Sweden’s second new listing in weeks following serial acquirer Roko AB’s $526 million IPO earlier in March. It also tops the €748 million ($805 million) first-time share sale by Spain’s HBX Group International Plc in February, making Sweden one of Europe’s IPO hotspots so far this year.

Asker, which operates in 17 countries and had net sales of about 15 billion kronor in 2024, has pursued an acquisitive strategy to become a leading distributor in the European health-care market. It intends to refinance 1.2 billion kronor in credit facilities with the proceeds from the IPO, Asker said in Thursday’s statement.

Carnegie Investment Bank AB, Citigroup Inc. and Nordea Bank Abp are leading the IPO.

Most Read from Bloomberg Businessweek

• Business Schools Are Back

• Google Is Searching for an Answer to ChatGPT

• A New ‘China Shock’ Is Destroying Jobs Around the World

• The Richest Americans Kept the Economy Booming. What Happens When They Stop Spending?

• How TD Became America’s Most Convenient Bank for Money Launderers