French IT services group, Infotel is building the book for an initial public offering (IPO) prior to its debut on the Paris Bourse’s Nouveau Marche, with the first day’s trading scheduled to take place on January 21. Banque CPR and CIC Paris are the two financial institutions handling the placement, with the price range for the bookbuilding being Fr163-Fr176 ($29.12-$31.44) and the definitive IPO price to be announced on Monday, January 18. A total of 263,100-293,100 shares will be on offer, 38,100 being existing shares to be sold by the present shareholders, and 225,000-255,000 new shares. It is expected to raise between $6.7m and $7.6m. The Paris-based group, which already has offices in the US, Germany and the UK, had revenues of Fr121.5m ($21.6m), of which 72% came from consultancy, engineering and technical assistance, 23% from software sales and 5% from training.
