* Price is in the middle of 19-25 euro range
* IPO to yield 260 mln euros
* Stabilus market debut set for May 23
(Rewrites, adds confirmation, background)
FRANKFURT, May 22 The shares of German
automotive and industrial supplier Stabilus SA will be
priced at 21.50 euros each - the middle of a previously
estimated price range of 19-25 euros - when they make their
market debut on May 23, the company said late on Thursday.
Stabilus, whose gas springs and hydraulic dampers are used
to determine how fast a trunk lid opens or individually adjust
the height of swivel chairs, is planning to use the proceeds of
roughly 260 million euros ($355.07 million) to pay down debt.
The company is joining a swathe of others tapping equity
markets as an economic recovery lifts investor confidence and
stock markets. Global initial public offerings almost doubled in
value in the first quarter of 2014.
Germany has so far seen little activity. Stabilus' market
debut will be the second in the country this year after the 180
million euro float of 3D printer maker SLM Solutions earlier
At the issue price, Stabilus will have a market
capitalisation of about 445.6 million euros.
($1 = 0.7318 Euros)
($1 = 0.7323 Euros)
(Reporting by Arno Schuetze and Harro ten Wolde. Editing by