GAZ TRANSPORT & Technigaz (GTT), a subsidiary of
The world's largest maker of insulated hull linings for tankers that carry liquefied natural gas (LNG) will offer 13.5m shares in an indicative price range of €41 to €50 per share, GTT said.
The initial public offering (IPO) will value the company at between €1.52bn and €1.86bn, taking into account an overallotment option of 15 per cent of shares offered, GTT said.
After the IPO, GDF is expected to retain around 40 per cent of the capital of GTT, while Total and Hellman & Friedman's stakes will be cut to 8.8 per cent each. The number of shares in free float will represent 41.8 per cent of the capital.
The price for the IPO is expected to be fixed on 26 February, with trading due to start on
GTT, based outside
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