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Eltel says to raise SEK 2.8-3.1 bln in IPO

Reuters - UK Focus

(Corrects headline to show amount raised not company value)

STOCKHOLM, Jan 26 (Reuters) - Sweden's Eltel, a supplier of technical services for infrastructure networks, said on Monday the final price in its initial public offering in Stockholm is expected to be between 55-70 crowns per share.

The prices given would value the company at 3.7-4.3 billion Swedish crowns ($444-516 million).

Eltel said it expects the first day of trading on Feb.6.

The value of the offering amounts to about 2.8-3.1 billion crowns and will provide the company of around 1.3 billion crowns before issue costs.

Eltel, owned by venture capital group 3i and BNP (Paris: FR0000131104 - news) Paribas, is a provider of technical services to companies that own and operate infrastructure networks within power, communication, transport and defence.

($1 = 8.3272 Swedish crowns) (By Olof Swahnberg; Editing by Simon Johnson)