Itinere sets maximum share price at 4.30 euros

MADRID, April 23 (Reuters) - Spanish toll road firm Itinere (ITIE.MC: Quote, Profile, Research) on Tuesday set the maximum price for its share sale at 4.30 euros a share for retail investors.

Itinere, owned by construction company Sacyr Vallehermoso (SVO.MC: Quote, Profile, Research), had set an indicative range of 4.14 to 5.10 euros a share for the sale, which includes a capital increase.

Retail investors have been initially allocated 35 percent of the issue or 83.4 million shares, excluding the greenshoe option, Itinere said in a statement.

Itinere said the offer was currently 1.1 times subscribed with offers worth some 400 million euros received.

The company has been advised by Merrill Lynch on the offer which is also acting as bookrunner in the international tranche.

Global coordinators on the offer are Caja Madrid, La Caixa, Citigroup, JP Morgan, Santander and UBS.

Itinere said the definitive price for the retail, domestic institutional and international tranches of the offering will be set on April 28, two days before the shares start trading.

A total of just over 262 million shares are on offer including a greenshoe option which represents 32.2 percent of the company's capital.

At the price of 4.30 euros per share, Itinere would have a total market value of about 3.5 billion euros. (Reporting by Joe Ortiz; Editing by Richard Chang)