FLOW Traders said yesterday that it is looking to raise between €472m (£334.6m) and €603m in an initial public offering that values the high frequency trading firm between €1.35m and €1.722m.
The Dutch company, which counts Virtu Financial as its main competitor, has set an indicative price range of €29 to €37 per share ahead of a flotation on Amsterdam’s Euronext exchange.
It said its initial public offering could even raise €543m to €693m if an over-allotment option is exercised.
It will set its final offer price and announce the exact number of shares on sale on 9 July, with trading set to start on 10 July.
The company specialises in exchange traded products. It traded more than €500bn of securities in 2014, making €172m in revenue and core earnings of €84m.
Owners Summit Partners, Avalon Holding, Javak Investments and the Flow Traders Foundation are selling 40 per cent of the company.
“Our model provides us with a set of strong competitive advantages in ETP liquidity provision and we are very well positioned for continued strong growth,” said Sjoerd Rietberg, co-chief executive of Flow Traders.