Funds News

Hamburg port sets IPO price range at 43-53 eur

FRANKFURT, Oct 26 (Reuters) - Hamburg port operator HHLA set an indicative price range of between 43 euros and 53 euros ($75.80) for its initial public offering of Class A shares, the company said in a statement late Thursday.

The offer period will begin Oct 26 and is expected to end on Nov 1 at 1100 GMT for private investors and at 1300 GMT for institutional investors.

The offering consists of up to 22 million Class A shares in Hamburger Hafen und Logistik AG in total.

The final placement price will be determined on Nov 1. Trading is expected to begin the following day.

JP Morgan JPM.N and Citigroup C.N are lead managers of HHLA's IPO. Recent analysts' notes from both banks pinpointed a market value of up to 3.6 billion euros for the company. (Reporting by Nicola Leske)