BRUSSELS, June 11 Belgian diaper maker Ontex
plans to raise between 583 million and 620 million
euros ($793.76 - $844.13 million) by selling new and existing
shares on the Brussels stock exchange, the group said on
The group said this implied an enterprise value of between
1.74 billion and 1.94 billion euros for the company as a whole.
TPG and Goldman Sachs acquired the firm in 2010 for a reported
1.2 billion euros.
Ontex will sell 325 million euros worth of new shares at
between 16.5 and 20.5 euros a piece and up to 7 million existing
shares to institutional and retail investors to pay down debt.
The business had net debt of 862 million euros as of March 31
Depending on demand, Ontex said it had an option to increase
the number of shares sold by 15 percent, bringing the stake sold
on the market to 48.1 percent.
Whitehaven B, an investment vehicle controlled by private
equity firm TPG and Goldman Sachs, would continue to hold
45.8 percent in the company.
The listing is being led by Bank of America Merrill Lynch
, Goldman Sachs and UBS. JP Morgan is
($1 = 0.7345 Euros)
(Reporting by Robert-Jan Bartunek; Editing by Miral Fahmy)