Balta Announces IPO Price Range

Brussels, BE, May 31, 2017-Balta plans to raise 264 million euros ($295.0 million) in its initial public offering on the Brussels stock exchange, selling its shares at between 13.25 and 16.00 euros a piece, according to Reuters.

The group had announced its intention to list on the Belgium stock exchange earlier this month, saying it was aiming to reduce its debt.

Balta, which joined forces with Bentley in March, said its market capitalization would be between 476 and 545 million euros after it had listed, with a free float of between 45% and 60%. Along with the initial share sale, private equity owner Lone Star would also sell a part of its shares in a secondary offering, according to the company.