By Andres Gonzalez
MADRID: Spanish real estate developer Neinor, owned by U.S. private equity firm Lone Star, is in the process of selecting banks to lead a stock market listing in the first half of next year, three sources familiar with the operation said on Thursday.
“The idea is to list in the first half of 2017. The offer size would be around 500 million euros ($546 million),” one of the sources said on condition of anonymity. The source did not confirm how much of Neinor would be placed in the market.
Neinor has hired Lazard as a financial advisor to help it steer the process and is the midst of hiring banks to lead the initial public offering (IPO), the sources said.
Neinor declined to comment while Lazard could not immediately be reached for comment. ($1 = 0.9160 euros) (Writing by Sarah White, Editing by Angus Berwick)
Source: Reuters