FRANKFURT (Reuters) - Shares in German-owned restaurant chain Vapiano VAO.TG are to be offered at 23 euros per share in its initial public offering (IPO), two people familiar with the placement said on Monday.
Vapiano, based in Bonn, had marketed the shares in a range of 21 to 27 euros. The IPO will raise as much as 184 million euros (£162 million), of which 85 million are from new shares.
The IPO is aimed to help fund the expansion of its Italian-themed restaurants.
The subscription period expires on Monday, and shares are expected to start trading in Frankfurt on Tuesday.
Barclays, Berenberg and Jefferies are acting as joint global coordinators for the Vapiano IPO, together with Unicredit as joint bookrunners. Lazard & Co. GmbH is Vapiano’s financial adviser.
Reporting by Alexander Huebner; Writing by Tom Sims; Editing by Maria Sheahan