September 24, 2018 / 6:13 AM / 8 months ago

German chip factory builder Exyte to list on stock exchange

FRANKFURT, Sept 24 (Reuters) - German chip factory builder Exyte is planning to list on the Frankfurt stock exchange, the company said in a statement on Monday, adding to a flurry of initial public offerings in Europe’s largest economy.

The company’s owner, Austrian entrepreneur Georg Stumpf, is planning to sell shares in the company. No new shares will be on offer, Exyte said.

People close to the matter have said that stock worth up to 1 billion euros ($1.17 billion) is expected to be offered in a deal that could value Exyte at 2.5 to 3 billion euros.

Exyte builds sites for the semiconductor industry - including cleanrooms with ultra-clean air crucial for silicon wafer production. Its customers include Infineon, ASML and Micron.

In its fiscal 2018, it expects sales to exceed 3.5 billion euros and adjusted earnings before interest and tax to exceed 160 million euros. ($1 = 0.8524 euros) (Reporting by Arno Schuetze Editing by Maria Sheahan)

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