Nordwind Capital plans to float SHW

The subscription period is expected to start today and end on 30 June, reports Schwäbische Post. Share prices will range between €26-29.

Nordwind will trade public shares in Germany and additionally place an international private offer outside of the US, Australia, Japan and Canada. A number of 2.645 million shares will be offered as well as 397,000 shares for a greenshoe option. Following the IPO, 52% of SHW will be listed on the stock exchange representing a value of €83.7m.

In 2005, Nordwind acquired the company from Schwäbische Hüttenwerke SHW for €205m. The investor currently holds a 94% stake. Between 2006 and 2011 the net debt of SHW was reduced from €66m to €16m.

Headquartered in Aalen-Wasseralfingen, SHW was established in 1365 and is now a supplier to the automotive industry. The company operates four manufacturing sites in Germany and owns 50% of Canadian firm STT Technologies Inc, which runs production sites in Canada and Mexico. In 2010, SHW generated a turnover of approximately €290m and currently employs 1,000 people.

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