May 20, 2019 / 6:11 AM / 2 months ago

CORRECTED-Iceland's Marel seeks second listing, share issue in Amsterdam

(Corrects margin measurement in final paragraph to EBIT, not EBITDA)

AMSTERDAM, May 20 (Reuters) - Marel hf, the Iceland-based maker of meat processing equipment, said on Monday the company will seek a second listing on the Euronext Stock Exchange in Amsterdam, and issue new shares representing 15% of its total share base.

Marel, which is the largest publicly traded company in Iceland, said in a statement that it desired the second listing in order to better carry out its growth and acquisition strategy.

Trading in Marel shares represents 36% of the total on the Nasdaq Iceland Stock Exchange, the company said, adding it had posted about 1.2 billion euros ($1.34 billion) in 2018 revenue.

The company did not immediately provide profit figures, but said it had an adjusted earnings before interest and taxes (EBIT) margin of 14.6% of sales in 2018.

$1 = 0.8969 euros Reporting by Toby Sterling, Editing by Sherry Jacob-Phillips

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