December 18, 2017 / 3:45 PM / 7 months ago

Dutch energy storage firm Alfen plans share listing in 2018: sources

LONDON/AMSTERDAM (Reuters) - Dutch energy storage systems group Alfen is planning a share market listing in Amsterdam in the first half of 2018, hoping to benefit from surging demand for its large batteries and electronic vehicle charging stations, people close to the matter said.

The company’s owner, investment firm Infestos, is working with ABN Amro (ABNd.AS) and Barclays (BARC.L) to organize the flotation as global coordinators, they added.

The firm may be valued at 500 to 600 million euros ($591-709 million) in a flotation, one of the people said.

Infestos, Alfen and the banks declined to comment or were not immediately available for comment.

Alfen, founded in 1937 as a maker of high- and low-voltage equipment, diversified into electronic car charging stations in 2007 and into large-scale batteries in 2013. The energy storage systems provide utilities with a means to help balance supplies from intermittent solar and wind power production.

Alfen was part of construction group TBI from 1971, which sold the company to Infestos in 2014.

According to an undated page on Infestos’s website, Alfen has 250 employees and about 100 million euros in annual revenue.

According to documents from the Dutch chamber of commerce, Alfen had earnings before interest and taxes of 2.2 million euros and a net profit of 1.6 million in 2016.

($1 = 0.8465 euros)

Reporting by Dasha Afanasieva and Bart Meijer; Editing by Greg Mahlich

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