FRANKFURT, March 27 (Reuters) - Brenntag , the world's largest chemical distributor, will issue shares in its initial public offering at 50 euros ($66.65) apiece for a total issue value of 747.5 million euros.
Brenntag, founded in 1874 as an egg trader in Berlin, said on Saturday that all 14.95 million shares offered had been placed and that it would receive 525 million euros from the capital increase.
The company -- whose shares will start trading on the Frankfurt stock exchange on Monday -- previously set the price range for the share issue at 46-56 euros per share.
German-based Brenntag, owned by private equity group BC Partners, will be the fourth company to float successfully on Germany's stock market in 2010, just a day before China's Joyou.
Brenntag is often compared to British distribution and outsourcing group Bunzl, which is valued at about 9 times expected 2011 earnings before interest, tax, depreciation and amortisation (EBITDA), according to Goldman Sachs, one of the IPO's joint global coordinators alongside Deutsche Bank.
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Brenntag, founded in 1874 as an egg trader in Berlin, said on Saturday that all 14.95 million shares offered had been placed and that it would receive 525 million euros from the capital increase.
The company -- whose shares will start trading on the Frankfurt stock exchange on Monday -- previously set the price range for the share issue at 46-56 euros per share.
German-based Brenntag, owned by private equity group BC Partners, will be the fourth company to float successfully on Germany's stock market in 2010, just a day before China's Joyou.
Brenntag is often compared to British distribution and outsourcing group Bunzl, which is valued at about 9 times expected 2011 earnings before interest, tax, depreciation and amortisation (EBITDA), according to Goldman Sachs, one of the IPO's joint global coordinators alongside Deutsche Bank.
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.