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TI Fluid Systems to raise 600 mln euros in London debut
September 29, 2016 / 6:46 AM / a year ago

TI Fluid Systems to raise 600 mln euros in London debut

Sept 29 (Reuters) - Automotive firm TI Fluid Systems said on Thursday it would raise about 600 million euros ($673 million) in an initial public offering of its stock on the London Stock Exchange.

TI Fluid, whose first contract was in 1922 supplying fuel lines for the iconic Ford Model T, did not clarify how many shares it would sell, or their expected price.

The company said the offer would include a partial sale of shares held by funds advised by Bain Capital Private Equity, LP, members of the management team and other individual shareholders.

TI Fluid reported revenue of 3.1 billion euros in 2015.

Deutsche Bank AG, Goldman Sachs International, J.P. Morgan Securities and Citigroup are acting as joint bookrunner.

$1 = 0.8909 euros Reporting by Noor Zainab Hussain in Bengaluru; Editing by Sunil Nair

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