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