Stroeer plans July IPO
German advertising group Stroeer is aiming to list on the stock market on July 15 in what would be the country’s first IPO since Greece’s debt crisis spooked financial markets. Stroeer on Friday said it planned to sell around €275m (£227m) worth of shares from a capital increase and would use the proceeds to finance strategic acquisitions and new products. The total amount sold could be as much as €412m, including a greenshoe option and shares from co-owner Cerberus, making it Germany’s third-biggest initial public offering this year.