Initial public offering of BE Group (SE) — SEK 1.77 billion

Carnegie acted as co-lead manager in the initial public offering of BE Group on the Nordic list of the Stockholm Stock Exchange. The base share offer was more than 12 times subscribed. The selling price was set at SEK 62 per share. BE Group is one of the Nordic region’s leading trading and service companies in steel and other metals, which also has expanding operations in Eastern Europe. November, 2006.