German software and services company Kleindienst Datentechnik AG is currently pricing its initial public offering before listing its stock on the Neuer Markt, the small cap exchange in Frankfurt, on June 2. Bookbuilding began on June 27 and ends on June 31. The price range for the process is 23 euros-27 euros ($24.01-$28.19), with the final price for the offering to be announced on June 1.
Document management specialist Kleindienst is offering 1.75 million shares, of which one million are new issues and the other 750,000 are being sold by existing shareholders. A further 250,000 shares, also from the existing shareholders’ stakes, are available under an over-allotment option in the event of a high level of demand.
The shares on offer represent 50% stake in Augsburg-based Kleindienst. The IPO, bringing in between 40.25m euros-47.25m euros ($42m-$49.3m) in total, will thus value the company at 80.1m euros-94.5m euros ($84m-$98.6m).
