PRIMEPULSE SE, a technology-oriented investment holding based in Munich, on Friday specified the price range for its planned initial public offering or IPO at 22 euros to 27 euros per share.
The offer encompasses 5 million shares from a capital increase and an overallotment option of 750 thousand shares from the principal shareholders' existing holdings. Assuming complete placement of all shares offered, the placement volume is expected to be between 126.5 euros and 155.3 million euros, of which the company will receive between 110.0 million euros and 135.0 million euros as gross issuing proceeds.
The offer period is from October 22 to 31, 2018. The initial listing on the Frankfurt Stock Exchange is planned for November 06.
The company noted that the principal shareholders, Stefan Kober, Raymond Kober, and Klaus Weinmann, through ABCON Holding GmbH, will remain majority shareholders after the IPO. The goal is a free float of about 17 to 20 percent after the IPO, the company said.
The approval of securities prospectus is expected in the course of the day.
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