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Metals recycler Befesa seeks stock market listing before summer -sources
May 31, 2017 / 8:48 AM / 6 months ago

Metals recycler Befesa seeks stock market listing before summer -sources

FRANKFURT, May 31 (Reuters) - Metals recycling group Befesa is planning to list on the Frankfurt stock market before the summer break in a deal potentially valuing the group’s equity at 1-1.2 billion euros ($1.1-1.3 billion), two people close to the matter said Wednesday.

The company is expected to announce its intention to float in June with a debut taking place four weeks later, they said.

Shares worth about 450-500 million euros will be offered, including 100 million in new shares, while Befesa’s owner, buyout group Triton, will also sell some stock, they added.

Santander, Commerzbank, Berenberg and Stifel are acting as bookrunners alongside the global coordinators Goldman Sachs and Citi, the people said.

Triton declined to comment, while the banks also declined to comment or were not immediately available for comment. (Reporting by Arno Schuetze)

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