April 2, 2014 / 6:40 AM / 3 years ago

RPT-Spain's Applus+ to sell shares in institutional IPO

MADRID, April 2 (Reuters) - Spanish testing and inspection company Applus+ said on Wednesday it would launch an initial public offering for institutional investors to raise 300 million euros ($413.83 million), mainly to pay off debt.

The sale of the Barcelona-based company, owned by private equity firm Carlyle, will be Spain's first corporate IPO since 2011. ($1 = 0.7249 Euros) (Reporting By Elisabeth O'Leary; Editing by Paul Day)

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