By Gilles Guillaume
PARIS, July 9 (Reuters) - French energy services group Spie plans to raise some 550 million euros ($750 million) in new capital as part of an IPO that should be completed by the end of this year.
Speaking as the company registered its intention to list with financial regulator AMF, Chairman Gauthier Louette said he hoped to have the IPO completed by the end of the year provided the market conditions remained favourable.
Spie is also expected to sell existing stock in an offering that analysts say could value the group at about 4 billion euros.
Spie, which counts large energy companies such as Total and EDF among its customers, also runs the air conditioning system for London’s Tate Gallery and maintains the training facilities for Manchester United Football club.
Created in 1900 to work on the electrical infrastructure of the Paris Metro underground system, its name derives from Société Parisienne pour l‘Industrie Electrique. It was for a while part of the listed conglomerate Spie Batignolles, but the two groups went their separate ways in 2003.
Spie is currently owned 89.6 percent by private equity fund Ardian, Clayton Dublier & Rice and the Caisse de dépôt et placement du Québec. Managers own the remainder.
Spie competes with GDF Suez unit Cofely, Dalkia , Vinci Energies and Sodexo.
It also plans to keep some 5 percent of its capital for distribution to its 37,000 employees.
The IPO will provide an exit for the private equity owners and the company said funds raised would be used to reduce debt.($1 = 0.7331 Euros) (Reporting by Gilles Guillaume; Writing by Andrew Callus; Editing by Brian Love)