French flooring company Tarkett begins marketing share sale
LONDON Oct 29 (Reuters) - Private equity-backed French flooring maker Tarkett began marketing its planned Paris stock market listing to potential investors on Tuesday, according to an offer document seen by Reuters.
Deutsche Bank and JP Morgan are running the offering, and are joint bookrunners along with Bank of America Merrill Lynch, Credit Agricole and HSBC, according to the document.
Earlier this month Tarkett submitted a registration filing for an initial public offering in which it said U.S. private equity firm KKR, which owns 50 percent of the company, would sell part of its stake.
The Deconinck family, who own the rest of the company, will buy more shares in the offering to keep their ownership stake above 50 percent.
The document did not give any details on timing of the sale but in Europe the listing process typically involves around two weeks of so-called investor education, when analysts from the investment banks working on a sale present their research to potential investors before a price range for the shares is set.
Order books are then opened for around two weeks, meaning Tarkett could make its stock market debut in late November.
Tarkett was not immediately available to comment.