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Oct. 20, 2021, 2:34 a.m. EDT

AutoStore Prices IPO at Top of Range, Valuing Company at $12.4 Bln

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By Dominic Chopping

AutoStore Holdings Ltd. on Wednesday priced its initial public offering at the top of its indicative range, valuing the company at 103.5 billion Norwegian kroner ($12.4 billion).

The Norwegian robotic and software technology company said it has priced its IPO at NOK31 a share, ahead of listing on the Oslo Stock Exchange later on Wednesday.

The company raised NOK2.7 billion from selling new shares in the offering.

AutoStore, which operates in the warehouse-automation industry and has 20,000 robots installed in more than 35 countries, counts Thomas H. Lee Partners LP, SoftBank Group Corp. and EQT AB among its owners.

Thomas H. Lee Partners holds a 36.2% stake in the company and EQT 3.96% after the companies both sold down their stake in the offering. Softbank bought a 40% stake in the company in April this year and didn't sell any of its shares in the offering.

Write to Dominic Chopping at dominic.chopping@wsj.com

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