EQT proposes lock-up alternative

摘要

Nordic private equity house eqt has posited a refinement to the way lock-ups are calculated for major selling shareholders. Caspar Callerstrom, a partner and head of equity in Stockholm at EQT, has suggested that instead of lock-ups for a set period - typically 180 days post IPO and 90 days after subsequent sales - they should instead be tied to the quarterly reporting cycle. Sanitaryware maker Sanitec, an asset that Callerstrom manages and that was bought by EQT in 2005, raised SKr3.183bn (US$462m) through an OMX listing in December 2013. In May this year, Sanitec asked the lead IPO banks Nordea and UBS to waive a six-month lock-up one week before it was due to expire. The shares had surged on publication of Q1 numbers.