BRUSSELS May 17 Belgian carpet maker Balta said
on Wednesday it was planning to list on the Brussels stock
exchange in the near future to raise about 138 million euros
($153.1 million) to reduce its debt.
The company, which had revenues of 668 million euros in
2016, said the listing would allow it to reduce its net debt to
2.5 times core profit from 3.9 times at the end of March.
Along with the initial share sale, private equity owner Lone
Star would also sell a part of its shares in a secondary
offering, the group added.
Balta said it was looking at merger opportunities as a way
of growing its business, having bought U.S. based group Bentley
J.P. Morgan Securities and Deutsche Bank were joint global
coordinators of the offering, Balta said.
($1 = 0.9011 euros)
(Reporting by Robert-Jan Bartunek; editing by Philip