March 1, 2012 / 9:26 AM / 6 years ago

Rexel shares placed at 15.75 eur - traders

PARIS, March 1 (Reuters) - Private equity group Ray Investment has placed 11.2 percent of French electrical materials supplier Rexel at 15.75 euros a share, traders said on Thursday.

The 30 million shares Ray is selling would be worth around 470 million euros ($629 million) based on that price.

The sale took place at the bottom end of a range of 15.75-16.10 euros, one trader said.

The stock was trading at 15.905 euros by 0914 GMT, down 3.9 percent. ($1 = 0.7476 euros) (Reporting by Juliette Rouillon; Editing by Blaise Robinson)

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