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Lone Star reveals Balta target price

Balta SoftnobleThe owner of flooring group Balta has revealed how much the group will be valued when it floats on the stock market.

Lone Star has revealed that the group will be valued at between €476m and €545m when it is floated on the Brussels stock exchange next month.
The share price range will be €13.25 - €16.00, depending on demand and will be decided on 13 June, with trading expected to begin on 14 June.
Following the floatation, Lone Star will see its shareholding fall to 45% with 52% of shares held by other investors, and 3% Balta’s management. This could fall to 38% if demand is sufficient.
‘Our IPO is a key milestone in Balta's future growth. Based on our high standards of excellence in both design and operations, the public offering will allow us to continue to be at the forefront of innovation, to continuously improve our efficiency and to expand our international footprint. The dedication of our employees has enabled our company to become a global leader in soft flooring. Thanks to this public offering, we will continue to offer high-quality products to our customers worldwide,’ said Tom Debusschere, Balta Group ceo.