Verisure’s shares rose 21% on their first day of trading in Stockholm after the company raised €3.2bn in Europe’s biggest IPO since 2022. Shares closed at €16, up from the €13.25 offer price, valuing the home security provider at €13.7bn, according to Bloomberg.

The deal also marks Sweden’s largest listing since 2000, further cementing Stockholm’s position as Europe’s most active IPO market in 2025. More than 500 institutional investors participated in the offering, with demand exceeding the available shares multiple times. Cornerstone investors Alecta and Singapore’s GIC together subscribed for about €1.4bn.

Hellman & Friedman, Verisure’s long-time private equity owner, remains the company’s largest shareholder, with its stake reduced from 60% to roughly 46% following the offering. The firm previously acquired Verisure, formerly known as Securitas Direct, in 2015 after buying it from Bain Capital.

CEO Austin Lally described the listing as a long-term growth milestone rather than a short-term win. “It’s not about today, it’s about how the company is trading throughout the rest of the year and beyond,” he said.

Proceeds from the IPO will be used to pay down €3.1bn of debt and finance Verisure’s planned acquisition of ADT Mexico. Moody’s upgraded the company’s rating to Ba1, one notch below investment grade, following the deal.

Founded in 1988, Verisure provides monitored alarm systems for households and small businesses across Europe and Latin America. The company has more than 5m customers and 20,000 employees.

DNB Carnegie, Goldman Sachs, and Morgan Stanley acted as joint global coordinators on the offering.

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