May 28, 2014 / 5:25 AM / in 4 years

French caterer Elior aims to raise $1.15 bln in IPO

PARIS, May 28 (Reuters) - Europe’s third largest catering group Elior set a price range for its initial public offering (IPO) of 14.35 to 17.50 euros per share on Wednesday and said it expects to make its debut on the Paris bourse on June 11.

Elior said the size of the offer was 845 million euros ($1.15 billion), including about 60 million shares from existing shareholders including Charterhouse, Chequers, Bagatelle Investissement et Management, Intermediate Capital Group and Sophia Global Investment.

The offering includes an over-allotment option of up to 15 percent of the total number of new and existing shares being sold. The price is due to be set on June 10, Elior added.

“This IPO will enable us to pursue our profitable growth strategy, based on both organic and external growth,” Chief Executive Gilles Petit said in a statement. ($1 = 0.7345 Euros) (Reporting by James Regan; Editing by Miral Fahmy)

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