AMSTERDAM: Flow Traders, a Dutch proprietary trading firm, said on Tuesday that its initial public offering could value the company at up to 1.72 billion euros, or about $1.9 billion.
The trading firm, based in Amsterdam, said it planned to sell up to 18.7 million shares, or about 40 percent of the company, in the offering, with a price range of €29 to €37 a share. That would value the firm at €1.72 billion, at the top end of the range.
Flow Traders said it expected to raise up to €693 million in the offering if an overallotment of shares was fully exercised.
We are pleased to announce the launch of our I.P.O. today,” Dennis Dijkstra, the co-chief executive of Flow Traders, said in a news release.
The company has seen “continued robust trading” since the end of the first quarter, Mr. Dijkstra said. “The level of interest we have seen in the investment community so far is very encouraging.”
Flow Traders announced its plans to pursue an I.P.O. on June 19.
The company is expected to price its shares on July 9 and to begin trading the next day on the Euronext exchange in Amsterdam.
The offering will include sales to institutional investors in the Netherlands and elsewhere, and a retail offering to investors in the Netherlands.
The company’s owners, which include Summit Partners, Avalon Holding and Javak Investments, are expected to sell shares in the offering.
Flow Traders specializes in exchange-traded products. The company posted revenue from trading of €240.8 million and a profit of €67.9 million in 2014.
Morgan Stanley and UBS are acting as joint coordinators on theoffering and Rothschild is serving as financial adviser to Flow Traders.
