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Owner of Sandro fashion label prices Paris IPO at 22 euros/share
October 19, 2017 / 4:08 PM / in a month

Owner of Sandro fashion label prices Paris IPO at 22 euros/share

PARIS, Oct 19 (Reuters) - France’s SMCP (IPO-SMCP.PA) will price its stock market flotation at 22 euros per share, it said on Thursday, giving the fashion firm behind the Sandro and Maje labels a market value of around 1.7 billion euros ($2.01 billion).

The group, which also houses clothing brand Claudie Pierlot, will remain in the majority hands of China’s Shandong Ruyi following the initial public offering - with around 51 percent - while private equity firm KKR will exit its 10 percent holding. ($1 = 0.8446 euros) (Reporting by Sarah White; editing by Michel Rose)

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