Senvion has launched plans for a private share sale days after cancelling a bid to float the company on the Frankfurt Stock Exchange.
Centerbridge Partners and Arpwood Capital, the private equity owners of the Hamburg turbine manufacturer, are now offering up to 28.75% of the group, Senvion said today.
The price range of €15.50 to €17 per share is expected to be determined on 22 March. If confirmed, the IPO will come in at a lower price than planned as part of its first stock listing proposal with lower volumes on offer.
Senvion expects its stock to start trading on the Frankfurt Stock Exchange on 23 March.
After failing to attract sufficient investor demand last week the German company pulled the plug on a planned sale of up to 46% of share capital in a €20-23.50 price range.
Image: Senvion
