Hemnet Group Completes IPO on Nasdaq Stockholm

Paul, Weiss advised General Atlantic and its portfolio company Hemnet Groub AB on Hemnet’s initial public offering on Nasdaq Stockholm. Following the pricing of its IPO at SEK 115 per share, Hemnet achieved a market capitalization of approximately SEK 11.6 billion ($1.4 billion). Following its majority acquisition of Hemnet in 2017, General Atlantic will continue to hold a stake of approximately 40% in Hemnet immediately following the IPO.

The Sweden-based Hemnet is Sweden’s leading online real estate classifieds platform, which has the largest selections of property listings in the country. The site is highly trafficked, has strong brand recognition and is a preferred brand for property sellers, buyers and real estate agents with a large and loyal visitor base.

The Paul, Weiss team included, among others, corporate partners Matthew Abbott, Mark Bergman and Christopher Cummings; and tax partners Patrick Karsnitz and Lindsay Parks.