• France’s SocGen IPO for stake in car leasing arm


    PARIS: Societe Generale said Monday it is to sell 20 percent of shares in its car leasing arm ALD Automotive in an operation which would value ALD at between 5.7 and 7 billion euros ($6.4-7.9 billion).

    The sale would raise between 1.1 and 1.4 billion euros, Soc Gen estimates in what would be France’s largest IPO in 18 months.

    The indicative price range for the offer has been set at 14.20 to 17.40 euros per share. Pricing is due be determined on June 15, with shares being traded from the following day on the Paris Euronext exchange.

    If an overallotment option for the IPO is achieved in full, taking the share of the company up for grabs to 23 percent, the total size of the global offering will be between 1.32 billion and 1.62 billion euros.

    According to its website, ALD, seeking to become a global leader in the sector, is present in 41 countries and manages 1.4 million vehicles worldwide.


    Please follow our commenting guidelines.

    Comments are closed.