Paragon's Voltabox eyes IPO volume of up to 152 mln eur
25/09/2017 07:12
FRANKFURT, Sept 25 (Reuters) - German battery systems maker
Voltabox said its shares would be priced between 20 and 24 euros
in its planned initial public offering for a placement volume of
up to 151.8 million euros ($181 million).
Parent company Paragon PGNG.DE said two weeks ago it plans
to float about 40 percent of its Voltabox unit on the Frankfurt
stock exchange as early as this autumn to raise funds to develop
the business. urn:newsml:reuters.com:*:nL5N1LS2HV
The IPO volume is expected to raise between 126.5 million
and 151.8 million euros, with Voltabox likely to receive gross
proceeds of 116.5-139.8 million euros, the IPO candidate said in
a statement on Monday.
The subscription period will run from Sept. 27 to likely
Oct. 10 with the first day of trading in the Frankfurt stock
exchange's Prime Standard segment expected for Oct. 13, it
added.
Voltabox, whose customers include carmaker BMW BMWG.DE ,
brake systems business Knorr-Bremse and industrial robots maker
Kuka KU2G.DE , makes lithium-ion-based battery systems used in
electric forklifts, mining vehicles and trolley buses.
It has said it sees opportunities in agricultural markets,
construction vehicles and municipal utility vehicles. It also
plans to expand into performance electronics and electric
engines.
($1 = 0.8389 euros)
(Reporting by Ludwig Burger; Editing by Christoph Steitz)
((ludwig.burger@thomsonreuters.com; +49 69 7565 1311; Reuters
Messaging: ludwig.burger.thomsonreuters.com@reuters.net))
Keywords: VOLTABOX IPO/VOLUME