* IPO to take place in first half of 2011
* Norma sees gross proceeds of about 150 million euros
* Free float of 50-60 percent after IPO
(Adds details, background)
FRANKFURT, March 10 (Reuters) - Vehicle clamp maker Norma [NORM.UL], owned by British private equity group 3i Group Plc (III.L), said on Thursday it planned to float on the Frankfurt Stock Exchange in the first half of the year.
The group said it was aiming for gross proceeds from the initial public offering (IPO) of about 150 million euros ($208.1 million).
Norma would have a free float of 50-60 percent after the IPO, it added.
Other German companies that are tipped to float before Easter include container shipping company Hapag Lloyd [HPLG.UL], property group GSW and cable operator Kabel BW [KBWHL.UL]. None of those have, however, published an intention to float so far.
A recent upsurge in stock market listings seems to have revived the German IPO market, which had experienced a drought as many companies shelved their flotation plans in the country after the Greek debt crisis shook markets.
Norma could become the fourth company to float in Frankfurt this year.
German bicycle maker Derby Cycle DCTG.DE and software group RIB RSTAG.DE completed market debuts in February, ahead of British racing team Williams Grand Prix Holdings (WGF1G.DE), which floated earlier this month. [ID:nLDE7161J0] [ID:nLDE7201YD] <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ For a factbox on the EMEA IPO pipeline, see [ID:nLDE71K1XB] For a Dealtalk on upcoming listings, see [ID:nLDE71H0EV] ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
Norma chiefly develops and manufactures plastic and metal-based components and systems in the field of connecting technology.
The original Norma company was founded in 1949 and merged with Swedish ABA Group in 2006 to become the company it is today.
In 2007, Norma acquired Breeze Industrial Products Corporation, the company that invented and patented the first worm-drive hose clamp for the U.S. market. The acquisition gave it a strong foothold in the U.S.
Reporting by Josie Cox. Editing by Jane Merriman