By Gilles Guillaume
PARIS, July 9 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
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
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
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)