HANOVER, Germany, March 22 Germany's
third-largest insurance group Talanx sees markets as
favourable for a possible flotation, but said it is still
keeping all its options open.
"The capital market environment is much more attractive than
a year ago. But it is up to us if we want to list on the stock
exchange," Chief Executive Herbert Haas said at the group's
annual conference on Thursday.
Talanx has recently sped up preparations by adding two banks
to the team organising its planned flotation, according to a
source familiar with the planning.
Citigroup and JP Morgan will help prepare the initial public
share offering, which could have a volume of 0.75 billion euros
to 1.5 billion euros ($1-2 billion).
Talanx picked Rothschild as the main advisor last year,
while Deutsche Bank was nominated to lead the banking
consortium, according to sources.
The company, which has mulled an initial public offering for
more than a decade, has been gearing up for the move more
actively over the last year but has kept quiet on the timing.
A listing, which bankers have said could take place as early
as the second quarter, would allow Talanx to take advantage of a
market that has become increasingly receptive as debt crisis
fears fade and investor risk appetite grows.
($1 = 0.7582 euros)
(Reporting by Alexander Huebner; Writing by Arno Schuetze)