German fashion retailer Adler on Sunday published the prospectus for its planned initial public offering, through which it aims to expand at home and abroad. Adler, which dates back to 1948 and was part of the Metro AG from 1996 to 2009, on Friday announced its intention to float in the regulated Prime Standard Index of Frankfurt's stock exchange.
The group has set a price range of 10-12.50 for the new shares, and said it hopes to raise as much as 145 million euros ($207.7 million) through the June 16 IPO.
BluO, which bought the company for just 10 million euros in 2009, has been looking for an exit, sources first told Reuters in March. Credit Agricole will be acting as global co-ordinator and bookrunner for the offering. The subscription period for new shares will begin on May 30 and last until June 14.
Several planned IPOs were shelved at the end of 2010 and at the beginning of this year, as volatile markets spooked investors, but issuer sentiment appears to be recovering.
Last week Chinese power equipment maker United Power Technologies set the price range for its intended Initial Public Offering (IPO) at 9-11.50 euros, in a sign of confidence after it shelved plans to float in November. United Power aims to list in the Prime Standard of Frankfurt's Stock Exchange on June 10. Earlier this month, German property firm Prime Office said it aims to IPO in Frankfurt this summer.
Comments
Comments are closed for this article.