MADRID, June 11 (Reuters) - Spain’s Primafrio plans to float a stake on June 24 in an operation that would value the logistics company at up to 1.69 billion euros, the company said late Thursday.
Primafrio will become the third company to debut on the Madrid stock market this year after Spanish bank Bankinter spun off its insurance business Linea Directa and green energy firm Econener listed its shares.
Family-owned Primafrio, a logistics operator which specialises in refrigerated products, plans to sell its shares at between 9.30 euros ($11.34) and 12.10 euros, which would value the company at between 1.30 billion euros and 1.69 billion euros, it said in a filing to the stock market regulator.
After three years in which few companies listed in Madrid, half a dozen firms have announced plans to list this year.
Power and infrastructure group Acciona kicked off the process to spin off and list its renewable energy unit in a deal that could value it at 8 billion euros, according to banking sources.
$1 = 0.8203 euros Reporting by Inti Landauro and Tomas Cobos; editing by Jason Neely