(Corrects year Doughty Hanson bought company, gives exact
amount paid instead of approximate figure, both in paragraph 3)
* Offering expected to raise 205-250 mln pounds - sources
* Order books due to close March 26 - sources
LONDON, March 14 Cabling equipment maker
HellermannTyton has set a guide price range of 190 to
235 pence per share for its London listing this month, two
sources close to the sale said on Thursday.
HellermannTyton joins British insurer esure and estate agent
Countrywide in taking orders for its shares as a string of
companies move to go public in London after years of subdued IPO
activity due to the financial crisis.
Private equity firm Doughty Hanson bought HellermannTyton,
which makes devices for fastening, fixing, identifying and
protecting cables, for 332 million pounds ($499.7 million) in
Half of the company is up for sale and the offering is
expected to raise between 205 million and 250 million pounds,
the sources said.
If an overallotment option is exercised, whereby extra
shares are sold to meet strong demand, the offer size could
increase by 10 percent.
Most of the proceeds will go to Doughty Hanson, which is
selling part of its stake, with another 35 million euros ($45.32
million) from the sale of new stock to be ploughed into the
Order books opened on Thursday and are expected to close on
March 26, the sources said, with the company due to make its
stock market debut the following day.
Goldman Sachs and J.P. Morgan are acting as joint global
coordinators and bookrunners on the offering, joined by Numis
Securities as lead manager.
($1 = 0.6700 British pounds)
($1 = 0.7722 euros)
(Reporting by Kylie MacLellan; Editing by Tom Pfeiffer and