October 15, 2015 / 6:33 AM / 2 years ago

CORRECTED-Music streaming service Deezer to raise 300 mln eur in IPO

(Corrects to 300 million euros from up to 406 mln and to show number of shares offered will vary based on price)

PARIS, Oct 15 (Reuters) - Music streaming service Deezer said it expects to raise 300 million euros ($343 million) from selling new shares when it lists on the Paris stock exchange later this month.

The company set a price target for the initial public offering of between 36.40 euros and 49.24 euros. It plans to sell 8.242 million new shares at the lowest price, falling to 6.092 million at the highest. Deezer said an over-allotment option meant the number of shares sold could increase by up to 15 percent.

Deezer said in a statement on Thursday that the price of the shares would be set on Oct. 27, with trading on Euronext Paris due to start on Oct. 30. ($1 = 0.8740 euros) (Reporting by James Regan; Editing by Ingrid Melander)

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