FRANKFURT, March 18 (Reuters) - German fashion house Tom Tailor plans to raise up to 190 million euros ($259.5 million) in its initial public offering next week, part of which it wants to use to pay down debt.
Tom Tailor will offer 11 million shares from a capital increase, as well as 1.65 million shares from the company's owners as part of an over-allotment option, for 11-to-15 euros apiece from Friday until March 24, it said late on Thursday.
The first day of trading on the Frankfurt stock exchange is set for March 26, according to a statement from the company.
This means Tom Tailor could raise up to 189.75 million euros with all shares on offer placed at the high end of the offering range. Tom Tailor would then have a free float of 76.5 percent after the IPO.
On Monday, German cable television company Kabel Deutschland (KDG) is set to float its shares on the Frankfurt stock exchange, which is likely to become Germany's biggest IPO since Hamburger Hafen und Logistik's $1.7 billion issue in 2007.
(Reporting Edward Taylor and Eva Kuehnen, editing by Leslie Gevirtz) ($1=.7321 Euro) Keywords: GERMANY IPO/TOMTAILOR (eva.kuehnen@thomsonreuters.com; +49 69 7565 1244; Reuters Messaging: eva.kuehnen.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Tom Tailor will offer 11 million shares from a capital increase, as well as 1.65 million shares from the company's owners as part of an over-allotment option, for 11-to-15 euros apiece from Friday until March 24, it said late on Thursday.
The first day of trading on the Frankfurt stock exchange is set for March 26, according to a statement from the company.
This means Tom Tailor could raise up to 189.75 million euros with all shares on offer placed at the high end of the offering range. Tom Tailor would then have a free float of 76.5 percent after the IPO.
On Monday, German cable television company Kabel Deutschland (KDG) is set to float its shares on the Frankfurt stock exchange, which is likely to become Germany's biggest IPO since Hamburger Hafen und Logistik's $1.7 billion issue in 2007.
(Reporting Edward Taylor and Eva Kuehnen, editing by Leslie Gevirtz) ($1=.7321 Euro) Keywords: GERMANY IPO/TOMTAILOR (eva.kuehnen@thomsonreuters.com; +49 69 7565 1244; Reuters Messaging: eva.kuehnen.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.