Enskilda Securities and Merrill Lynch are leading the first Swedish initial public offering (IPO) in 18 months, allowing EQT, the Nordic buy-out firm, to make a quick exit from Dometic, the speciality refrigerator manufacturer.

The two firms are joint global co-ordinators and bookrunners of the IPO, which could raise up to Skr3.8bn (€434m). This is the first flotation in Sweden since Alfa Laval, a heating equipment manufacture raised Skr5.6bn in May 2002, according to Dealogic, the investment banking research firm.