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German battery maker Varta eyes late October IPO - sources
September 22, 2017 / 8:13 AM / a month ago

German battery maker Varta eyes late October IPO - sources

MUNICH, Sept 22 (Reuters) - German battery maker Varta plans to launch another attempt at an initial public offering (IPO) next week with an eye to listing on the Frankfurt stock exchange in late October, two people familiar with the matter said.

The company targets an IPO volume of around 200 million euros ($240 million), they said.

According to financial sources, Berenberg is advising on the IPO, which was first flagged by German weekly WirtschaftsWoche and Austrian magazine Trend.

Varta, owned by Swiss investor Montana Tech Components , had cancelled previous IPO plans last November, citing an unfavourable market environment.

$1 = 0.8338 euros Reporting by Alexander Huebner; Writing by Maria Sheahan; Editing by Ludwig Burger

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