June 15, 2017 / 3:57 PM / a month ago

SocGen's flotation of car leasing arm ALD priced at low end of range

1 Min Read

PARIS, June 15 (Reuters) - France's second-biggest listed bank Societe Generale on Thursday priced the stock market flotation of a stake in its car leasing unit ALD near the lower end of an indicative range to raise a total of 1.156 billion euros ($1.29 billion).

It priced the flotation at 14.3 euros per share, compared with an indicative range of between 14.2 and 17.4 euros per share, before the exercise of the overallotment option which would increase the size of the offer.

In the event of the exercise in full of the overallotment option, the total proceeds would be 1.329 billion euros.

$1 = 0.8964 euros Reporting by Maya Nikolaeva; Editing by Edmund Blair

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