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PARIS, Sept 25 (Reuters) - French building materials firm Consolis took its first step towards a possible stock market flotation by formally registering its plans for an initial public offering (IPO) with market regulator AMF.
Consolis said it hoped to raise 135 million euros ($158 million), which would help it cut debt and fund expansion.
The firm had 2017 net sales of 1.44 billion euros and an adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) of 114.5 million euros.
Consolis was bought last year by Bain Capital from LBO France for an undisclosed sum.
Its roots go back to the 19th century, when French engineer Aime Bonna founded a supplier of reinforced concrete pipes. Bain Capital will remain as Consolis’ main shareholder.
Bank of America Merrill Lynch, BNP Paribas, JP Morgan, Natixis, Barclays, Societe Generale and Nordea are all involved in the planned Consolis IPO deal.
$1 = 0.8516 euros Reporting by Gilles Guillaume and Sudip Kar-Gupta; Editing by GV de Clercq