October 4, 2018 / 6:05 AM / in 17 days

French solar firm Neoen to raise 640 mln euros in IPO

PARIS, Oct 4 (Reuters) - French solar company Neoen said it planned to raise about 640 million euros ($734.34 million) in an initial public offering (IPO) of its shares, raising funds to help its expansion.

The firm said the shares will be offered at between 16 and 19 euros per share and the offer will run from October 4 to 15.

The price will be fixed on October 16 and informal trading on the Euronext exchange will start of October 17, while the company will make its formal, official debut on the Paris stock market on Oct. 19.

The company will offer about 450 million new shares, with about 190 million existing shares to be sold by two investment funds. Majority shareholder Impala will subscribe to about 170 million shares in order to remain the majority shareholder.

In case of high demand, current shareholders including Impala and Bpifrance may offer additional shares that could boost the offer to 711.5 million euros, the company said.

$1 = 0.8715 euros Reporting by Geert De Clercq; Editing by Sudip Kar-Gupta

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