* Sets IPO price range at 26-30 euros/share
* Says shares expected to start trading on Feb. 9
* Free float to come to around 25 pct after IPO
* Dermapharm IPO to be first listing in Germany in 2018 (Adds details on proceeds, banks)
FRANKFURT, Jan 26 (Reuters) - German drugmaker Dermapharm said it would sell shares worth up to around 400 million euros ($497 million) in an initial public offering and list on the Frankfurt stock exchange on Feb. 9.
It will be Germany’s first stock market listing of 2018, which is expected to be a blockbuster year for IPOs.
Dermapharm, which makes generic drugs, cosmetics, dietary products and medical devices, on Friday set the price range for the IPO at 26 to 30 euros per share, resulting in a total offering of between 350 million and 404 million euros.
The company had said on Jan. 15 it would float around a 25 percent stake.
It said on Friday that the offering would comprise a total of 13.46 million shares, of which 3.84 million are new shares from a capital increase and 7.86 million are from the family that controls Dermapharm.
In addition, up to 1.76 million shares from the family have been earmarked for over-allotments.
Dermapharm expects to generate gross proceeds of 100 million to 115 million euros from the sale of the new shares, which it plans to set up a new manufacturing site in Austria and partially refinance a bridge loan among other uses.
Berenberg is acting as Sole Global Coordinator and Sole Bookrunner and ODDO BHF as Co-Lead Manager for the offering.
Other flotations expected in the coming months include Siemens’s Healthineers unit, which sources have said is expected to list in March, with brake systems maker Knorr-Bremse and Deutsche Bank’s asset management arm DWS hot on its heels. ($1 = 0.8050 euros) (Reporting by Maria Sheahan; Editing by Susan Fenton and Hugh Lawson)