Shares in speciality chemicals group IMCD priced at 21 euros

AMSTERDAM, June 27 Fri Jun 27, 2014 2:28am EDT

AMSTERDAM, June 27 (Reuters) - Shares in chemical distributor IMCD start trading in Amsterdam on Friday at 21 euros ($28.54) each, the company said, valuing the offering at 462 million euros, the high end of the range.

The shares were over-subscribed, leading IMCD to increase the offering by 10 percent to 22,000,000, excluding an over-allotment option, the company said in a statement.

Based on the number of shares being offered, IMCD will have a market capitalization of roughly a billion euros.

There is an over-allotment option of up to an additional 15 percent.

IMCD provides marketing, sales and distribution services in the chemical industry in 30 countries. It employs 1,400 people.

($1 = 0.7359 Euros) (Reporting By Anthony Deutsch; Editing by Elaine Hardcastle)