June 4, 2018 / 6:09 AM / 2 months ago

French company Delachaux prices IPO between 18.50-22.50 euros/share

PARIS, June 4 (Reuters) - French industrial and manufacturing company Delachaux on Monday set the price range for its forthcoming stock market flotation at between 18.50-22.50 euros per share.

The final price for its initial public offering (IPO) will be set on June 14, with formal trading of the shares due to start on June 19.

Delachaux, which had 2017 sales of 841 million euros ($983.6 million), had been previously listed on the stock market but was then de-listed back in 2011 after being taken over by CVC Capital Partners and one of the family shareholders.

“The IPO will enable us to reduce our debt and provide us with additional resources to finance our growth and strengthen our technological and geographic leadership,” said Delachaux Group chief executive Guy Talbourdet.

BNP Paribas, Citigroup, Deutsche Bank , Credit Agricole, HSBC France and Societe Generale are the main banks involved in the Delachaux IPO. ($1 = 0.8551 euros) (Reporting by Sudip Kar-Gupta; Editing by Bate Felix)

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