(Corrects to clarify number of total shares sold will be lower
at the upper end of pricing range)
FRANKFURT, Sept 15 (Reuters) - Private equity-owned German
defence supplier Hensoldt will rake in at least 400 million
euros ($474 million) in its planned initial public offering, the
company said on Tuesday.
The former Airbus unit, which buyout group KKR
bought in 2016, plans to sell up to 45.81 million
shares, which includes upsize and greenshoe options.
Total proceeds could reach up to 580 million euros as the
number of total shares sold will be lower if the upper end of
the 12-16 euro pricing range is reached. The free float will be
32%-44%.
Reuters reported plans of the listing last week.
The share sale could give the group an enterprise value of
up to 2.61 billion euros ($3.09 billion), at the lower end of
the span previously given by sources close to the matter.
The offer period for shares in Hensoldt, which competes with
groups such as Ultra Electronics and Mercury Systems
, is expected to run from Sept. 16 until Sept. 23, with
the first day of trading slated for Sept. 25.
($1 = 0.8441 euros)
(Reporting by Christoph Steitz;
Editing by Chizu Nomiyama and Dan Grebler)
