February 5, 2018 / 7:24 AM / 5 months ago

French plastics maker Novares prices IPO at 6.30-8.00 euros/share

PARIS, Feb 5 (Reuters) - French plastics maker Novares priced its initial public offering (IPO) at between 6.30-8.00 euros per share on Monday, in a deal which it said would raise gross proceeds of 150 million euros ($187 million).

Novares mostly produces plastic items for car interiors, such as door handles, dashboard components or air vents, and the company said the IPO would help fund future acquisitions.

Trading in Novares shares is expected to start on Feb. 15. HSBC, Natixis and Societe Generale are advising Novares on its stock market flotation.

Investment fund Equistone owns a 72.3 percent stake in Novares, while French state bank BPI holds 15.1 percent. ($1 = 0.8031 euros) (Reporting by Sudip Kar-Gupta, editing by Louise Heavens)

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