Bilfinger Australia IPO may raise A$1.5 bln-source

SYDNEY Nov 10 (Reuters) - German construction group Bilfinger Berger AG (GBFG.DE) could raise between A$1-1.5 billion ($926 million-$1.4 billion) in a planned IPO of its Australian unit next year, a source familiar with the matter told Reuters on Tuesday.

Earlier, Bilfinger said it was exploring a potential sale of shares in its Australian business, Bilfinger Berger Australia (BBA), which it said has a projected turnover of about A$4.7 billion for the current fiscal year. See [ID:nL9526928] for more details. "The ballpark I would say is A$1 billion, may be up to A$1.5 billion," the source said, adding that the German parent was likely to sell down all its stake.

The source declined to be identified as the details of the IPO were still being finalised.

Bilfinger Berger declined to comment. ($1=A$1.08) (Reporting by Denny Thomas; editing by Jonathan Standing)