FRANKFURT (Reuters) - Private equity-owned German defence supplier Hensoldt will rake in at least 400 million euros ($474 million) in its planned initial public offering, the company said on Tuesday.
Total proceeds could reach up to 580 million euros as the number of total shares sold will be lower if the upper end of the 12-16 euro pricing range is reached. The free float will be 32%-44%.
Reuters reported plans of the listing last week.
The share sale could give the group an enterprise value of up to 2.61 billion euros ($3.09 billion), at the lower end of the span previously given by sources close to the matter.
The offer period for shares in Hensoldt, which competes with groups such as Ultra Electronics ULE.L and Mercury Systems MRCY.O, is expected to run from Sept. 16 until Sept. 23, with the first day of trading slated for Sept. 25.
(This story corrects to clarify number of total shares sold will be lower at the upper end of pricing range)
Reporting by Christoph Steitz; Editing by Chizu Nomiyama and Dan Grebler
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