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Bjørn Maaseide's stake in Sats is worth more than NOK 300 million



On Thursday, Sats training chain will provide further details on the company’s upcoming stock listing. The statement said that the offering shares would be sold in the range of NOK 23.5 and NOK 28 per share.

This gives the company a price of between NOK 4 and 4.5 billion.

I thought it was worth more

The biggest private investor in Sats is businessman, investor and former volleyball star Bjørn Maaseide. In August, he said his share of the training chain was 7.5 percent. At the same time, he said he thought Sats could have a market value of six to seven billion kroner.

Maaseide said on Thursday that a debt of NOK 1.1 billion was included in the calculation. If you take down the debt, it means that Maaseide believed that Sats could have a market value of between NOK 5 and 6 billion.

This would cost Maaseide a share of between NOK 367 and 443 million.

However, Sats' prices now estimate Maaseide's shares between NOK 303 million and NOK 341 million.

Today, the rate is largely owned by the Altor acquisition fund and the Danish Social Security Group. Just over one percent of the company is owned by Paal Hansema, who founded Fresh Fitness in Norway.

It will bring in 1.4 billion.

In connection with the IPO, Sats will raise 1.4 billion Norwegian kroner, of which NOK 470 million is used to reduce the company's debt. Otherwise, something will be used to pay the associated company and the costs associated with the IPOs.

The rest of the money will be used to pay a "set dividend" to existing shareholders.

Price manager Sondre Gravir did not say in September how much the actual claim was or how much the listing process might cost or how big the dividend might be to the existing owners.

"When it comes to transaction details, we don't come up with more accurate data," he said. (The case continues throughout the video)

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On Friday, Sat's facilitators will start combing the market for potential investors for an IPO, the so-called book-making process. It will initially run through October 22, but may end on October 18.

Sats aims to pay at least NOK 250 million in dividends in 2020.

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