Sweden’s Snigel Plots IPO as European Defense Boom Fuels Growth

Swedish group Snigel AB is weighing a stock market listing the year after next as demand for its tactical military gear hits new heights on the back of Europe’s rearmament efforts.

Amid the defense boom, the privately-owned company — which specializes in backpacks and bulletproof vests for elite forces — reached a valuation of about 500 million kronor ($51.9 million) this spring in a funding round that saw eEquity AB become the biggest shareholder.

Snigel AB specializes in backpacks and bulletproof vests for elite forces.

Source: Snigel AB

“We are preparing for a potential IPO in 2027,” eEquity Managing Partner Magnus Wiberg said in an interview. The investor added that he was optimistic ...