Norma, a maker of vehicle clamps, is planning to float on the Frankfurt Stock Exchange during the first half of 2011, Reuters reported. Norma is owned by British private equity firm 3i Group. The company aims to raise about 150 million euro ($208.1 million) through the offering.
(Reuters) – Vehicle clamp maker Norma [NORM.UL], owned by British private equity group 3i Group Plc (III.L), said on Thursday it planned to float on the Frankfurt Stock Exchange in the first half of the year.
The group said it was aiming for gross proceeds from the initial public offering (IPO) of about 150 million euros ($208.1 million).
Norma would have a free float of 50-60 percent after the IPO, it added.
Other German companies that are tipped to float before Easter include container shipping company Hapag Lloyd [HPLG.UL], property group GSW and cable operator Kabel BW [KBWHL.UL]. None of them have, however, published an intention to float so far.
German bicycle maker Derby Cycle (DCTG.DE) and software group RIB (RSTAG.DE) completed market debuts in February, ahead of British racing team Williams Grand Prix Holdings WGF1G.DE, which floated earlier this month.
(Reporting by Josie Cox)
If you do not receive this within five minutes, please try and sign in again. If the problem persists, please
email: subscriptions@peimedia.com.