October 13, 2016 / 6:41 AM / a year ago

Spain's Gestamp studying stock market listing in 2017

MADRID, Oct 13 (Reuters) - Spanish automobile-engineering company Gestamp is considering listing over a quarter of the company on the stock market in 2017, a spokesman said on Thursday, confirming a report in newspaper Expansion.

The spokesman said no further details were available as the operation remained in the initial stages.

The Riberas family, which owns the company, plans to place between 25 percent and 37 percent of the group with institutional investors depending on market conditions, the newspaper reported on Thursday, quoting Chairman Francisco Riberas.

The company is worth around 3.3 billion euros ($3.7 billion), the newspaper said, citing the sale of 12.5 percent to the Japanese company Mitsui in September for 416 million euros. ($1 = 0.8928 euros) (Reporting by Rodrigo de Miguel; Writing by Paul Day; Editing by Sonya Dowsett)

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