* Derby Cycle to float on Feb. 4, first German IPO this year
* Wants cash to further target overseas markets
* Price range for IPO 11.50-15.50 euros/share
FRANKFURT, Jan 21 (Reuters) - Derby Cycle, Germany’s largest bicycle maker, said on Friday it hopes to raise up to 100 million euros ($135 million) by listing in Frankfurt on Feb. 4.
That would make it the first German company to go public this year, boosting expectations for a wave of initial public offerings (IPOs) after a near-two-year drought.
It wants to sell 6.48 million shares at 11.50-15.50 euros, 1.5 million of these stemming from a recent capital increase, raising money to further penetrate overseas markets with its products, such as electric bicycles.
In the 2009/10 financial year, Derby sold 430,000 bicycles and generated some 173 million euros in revenue. Earnings before interest and tax totalled some 12 million euros, the group said.
Electric bicycles have surged in popularity, partly because most models can be classified as zero-emission vehicles.
The Obama administration’s push for one million rechargeable vehicles on U.S. roads by 2015 has added momentum to trends like the e-bike, and rechargeable motorbikes and cars. [ID:nN3099809]
Lingerie group Schiesser said this month said it had emerged from insolvency and was preparing to list on the Frankfurt Stock Exchange in the second quarter this year. [ID:nLDE70313J]
($1 = 0.7389 euro)
Reporting by Josie Cox; Editing by David Hulmes