One of Sweden’s leading fashion retailers, MQ, plans to float the company on the Stockholm exchange and expand into new markets.

Headquartered in Gothenburg, Sweden, MQ, the competitor of fashion giant Hennes & Mauritz (H&M), showed net sales during the past 12 months of SEK 1.4 billion and an operating profit of SEK 150 million.
(We're using the term competitor here in terms of design at affordable prices. H&M, with sales in 2009 in excess of SEK 100 billion and net profits of SEK 16 billion hardly has any contenders on the Swedish market at this point in time.)

During the last twelve months (May 2009-April 2010) the company's net sale amounted to 1.4 billion kronor with an operation profit of 150 million kronor. June 18 is planned as the first day of trading on the Nasdaq OMX Stockholm, and shares are estimated to sell at between $3.85-$.47 (SEK 31-36).

Putting 55% of the MQ's stocks on the market, the fashion retailer, with about 106 stores in Sweden, estimates that a successful lPO will raise between $83-97 million $746 million - $870 million (SEK 600-700 million) through a combined new issue of 3 million shares and sale of 13 million existing shares.

"MQ is one of Sweden's leading brand chains with an ambition to grow further in Sweden and expand to new geographic markets”, said board chairman Erik Olsson . He added that the listing is an important step to ensure "access to capital and further increase the awareness of MQ”.
More info, see www.mq.se