October 6, 2017 / 5:51 AM / 12 days ago

Metals recycler Befesa to list on Frankfurt stock exchange this year

FRANKFURT/BERLIN, Oct 6 (Reuters) - German metals recycling group Befesa is planning to list on the Frankfurt stock market this year, the company said in a statement on Friday.

Befesa, which controls almost half of Europe’s steel dust recycling market, is expected to be valued at 1.3-1.6 billion euros ($1.5-1.9 billion) excluding debt in a late-October float, people close to the matter said.

“The planned offering will consist exclusively of existing shares from current shareholder Triton and will allow for sufficient free float,” Befesa said.

Citigroup, Goldman Sachs International and J.P. Morgan are acting as joint global coordinators and bookrunners on the Offering. Berenberg, Commerzbank, Santander and Stifel are acting as additional joint bookrunners. (Reporting by Arno Schuezte and Victoria Bryan; editing by Michael Shields)

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