Senvion relaunches IPO, lowers price range

[MUNICH] German wind turbine maker Senvion has relaunched its share sale, albeit with a lower volume and at a lower price after last week cancelling the planned flotation on the Frankfurt stock exchange citing jittery markets.

The private equity owners of the group, Centerbridge Partners and Arpwood Capital, are offering up to 28.75 per cent of the group in a price range of 15.50 to 17 euros per share, Senvion said on Monday.

After failing to attract sufficient investor demand, Senvion had last week pulled the planned sale of up to 46 per cent in a 20-23.50 euro price range.

Senvion now expects its stock to start trading on March 23.

REUTERS