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SocGen's ALD declares intent for stock market flotation
May 12, 2017 / 6:07 AM / 7 months ago

SocGen's ALD declares intent for stock market flotation

PARIS (Reuters) - ALD, the car leasing unit of French bank Societe Generale (SocGen), said on Friday it has registered its intention with the French markets regulator AMF for a flotation.

SocGen, JP Morgan and Credit Suisse have been appointed as global coordinators for ALD’s initial public offering, three sources familiar with the matter told Reuters earlier this week.

The business could be valued at between 6 billion euros and 9 billion euros (7.6 billion pounds) in the IPO, the sources said. SocGen plans to sell a 20-25 percent stake in ALD.

“The completion of the contemplated listing is subject to a number of factors including, among others, receiving the AMF’s visa on the prospectus ... and the admission to trading on the regulated market of Euronext Paris as well as favourable market conditions,” the company said.

Reporting by Maya Nikolaeva; Editing by Muralikumar Anantharaman

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