September 25, 2018 / 6:36 AM / in a year

German tech investor Primepulse plans Q4 IPO

FRANKFURT, Sept 25 (Reuters) - German tech investor Primepulse with activities in cloud services, vision technology, electronics and automotive is planning to float on the Frankfurt stock exchange in the fourth quarter of this year, the company said.

Shares worth 250 million euros ($294 million) will be offered, and the proceeds are to be used to buy controlling stakes of technology groups as well as to strengthen existing investments, it said in a statement on Tuesday.

The offering includes an overallotment option of 15 percent of the base deal, to be served from Primepulse shareholders Stefan Kober, Raymond Kober and Klaus Weinmann, who will remain majority shareholders after the initial public offering.

In the first half of 2018, Primepulse group posted earnings before interest, tax, depreciation and amortization of 39.9 euro million euros on sales of 394 million euros.

Deutsche Bank and Hauck & Aufhaeuser are coordinating the IPO with the help of bookrunner Mainfirst. ($1 = 0.8516 euros) (Reporting by Arno Schuetze Editing by Maria Sheahan)

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