Stabilus IPO likely to price at 21.50 euros a share, say sources-Reuters

(Reuters) – Shares of German automotive and industrial supplier Stabilus will likely be sold at the middle of a 19 euros ($25.96) to 25 euros per share price range in its market debut on May 23, two sources familiar with the matter said on Thursday.

“The price guidance given to investors is 21.50 euros,” one of the sources said.

Stabilus, whose gas springs and hydraulic dampers are used to define how fast a trunk lid opens or to individually adjust the height of a swivel chair, is planning to use the proceeds of roughly 260 million euros to pay down debt.

The market debut is planned for Friday, May 23.