Global Blue prepares for possible 1 billion euro IPO

Shopping tax refund firm Global Blue is preparing for a possible 1 billion euro ($1.1 billion) initial public offering in Amsterdam this year as investors show renewed signs of interest in new listings, four sources familiar with the matter said.

The Switzerland-based firm, which relies mainly on Chinese, Middle Eastern and Russian tourists who use its network to purchase luxury goods tax free, first began talks with investors about a possible IPO some 18 months ago.

It has now appointed Morgan Stanley and JP Morgan as global coordinators and Credit Suisse as a bookrunner as it prepares for a listing on the Amsterdam stock exchange, the sources told Reuters.

The European IPO market has seen an uptick in recent weeks, after volumes of stock market flotations fell to their lowest level in seven years at the end of the third quarter.

German tech company TeamViewer and Swedish buyout firm EQT Partners raised 3.4 billion euros ($3.7 billion) between them through IPOs in September, while France's Verallia and Switzerland's SoftwareOne are marketing sizeable deals.