Truecaller seeks to raise $116 mn in Stockholm IPO

Caller-identification service Truecaller is looking to raise 1 billion kronor ($116 million) in what could rank among the year’s biggest initial public offerings in Sweden as deals surge to a two-decade high. Alongside the sale of new shares, existing holders will offer existing stock, according to a statement on Wednesday. The offering could value the company at about $3 billion, according to local media reports before the summer. Truecaller adds to ebullient listing activity in Stockholm, which has seen $6.4 billion raised so far this year, the most for any full year since the height of the dotcom era in 2000, according to data.