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German metals recycler Befesa sets IPO price range
October 20, 2017 / 6:14 AM / a month ago

German metals recycler Befesa sets IPO price range

FRANKFURT, Oct 20 (Reuters) - German metals recycling group Befesa is planning to sell shares worth up to 625 million euros ($738 million) in its Frankfurt stock market listing, it said in a statement on Friday.

The company is offering 14.3 million shares in a price range of 28 to 38 euros apiece, plus up to 2.1 million additional shares in an overallotment, making it the largest initial public offering (IPO) in Germany this year after online takeaway food delivery group Delivery Hero.

The stock is slated to start trading on Nov. 3. ($1 = 0.8471 euros) (Reporting by Maria Sheahan; Editing by Douglas Busvine)

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