(Corrects amount 3i received from IPO, further sales)
LONDON Jan 10 Private equity group 3i
has sold all of its remaining 16.7 percent stake in German
engineering group Norma for about 109 million euros
Britain's 3i on Thursday said it placed 5.3 million Norma
shares with investors for 20.50 euros each and was no longer a
shareholder in the German company.
That was a discount of about 4.5 percent to Norma's closing
share price on Wednesday and below its Frankfurt listing price
of 21 euros per share in April 2011.
The sale was "significantly oversubscribed", 3i said.
Shares in Norma were down 2.9 percent at 20.85 euros by 1010
GMT, while 3i's stock was 0.5 percent higher at 231.6 pence
The private equity group, which invested in Norma in 2006,
banked about 138 million euros from reducing its 73 percent
stake through the initial public offering. It also raised a
total of around 121 million euros from two further sell downs in
June and September last year.
Thursday's sale, which was run by Berenberg Bank, took 3i's
total return to 5.5 times its original investment.
($1 = 0.7667 euros)
($1 = 0.6247 British pounds)
(Reporting by Kylie MacLellan; Editing by David Goodman)