Balta, Owner of Bentley, Listing on Brussels Stock Exchange
London, UK, May 18, 2017-Belgian carpet maker Balta is planning to list on the Brussels stock exchange in the near future to raise about 138 million euros ($153.1 million) to reduce its debt, according to Reuters.
“The company, which had revenues of 668 million euros in 2016, said the listing would allow it to reduce its net debt to 2.5 times core profit from 3.9 times at the end of March,” the agency reports.
Balta bought Bentley in March.
Along with the initial share sale, private equity owner Lone Star would also sell a part of its shares in a secondary offering.