PARIS, June 5 (Reuters) - French bank Societe Generale on Monday announced the launch of the initial public offering of ALD Automotive, its car leasing arm, representing 20 to 23 percent of ALD’s share capital.
The indicative price range applicable to the French public offering and the international offering is between EUR 14.20 and EUR 17.40 per share.
“Assuming the exercise in full of the over-allotment option, the total size of the Global Offering will range between approximately 1,320 million euros and 1,617 million euros ($1.49 billion and $1.82 billion),” SocGen said in a statement.
ALD shares are expected to start trading on the regulated market of Euronext Paris on June 16 on an as if and when delivered basis, SocGen said.
$1 = 0.8879 euros Reporting by Ingrid Melander; Editing by Richard Pullin