PRIVATE equity-backed French flooring maker Tarkett will price a planned stock market listing in Paris in a range of €27.75 to €33.90 a share, the company said yesterday.
Last month, Tarkett submitted a registration filing for an initial public offering (IPO) in which it said US private equity firm KKR, which owns half of the company, would sell part of its stake.
The size of the IPO will be up to €539.7m (£452.9m) for 15,918.765 shares, sold by KKR, and the shares will start trading on 22 November, the company said in a statement.
The size of the offering will represent about 25 per cent of the company, and will value the group overall at up to €2.17bn, the company said during a conference call. Deutsche Bank and JP Morgan are acting as joint global coordinators and joint bookrunners. Bank of America Merrill Lynch, Credit Agricole and HSBC are acting as joint bookrunners and Commerzbank as co-lead manager.
The Deconinck family, who own the rest of the company, will buy more shares in the offering to keep their ownership above 50 per cent.
City A.M. Reporter