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Spain's Soltec sparks confusion with erroneous IPO statement

MADRID, Oct 15 (Reuters) - Spanish solar-equipment manufacturer Soltec mistakenly announced on Thursday it had received regulatory approval for a listing of up to 165 million euros ($193.02 million) of shares on the Madrid bourse before retracting the statement shortly after.

A spokesman for Spain’s CNMV market regulator said it had not yet approved the listing and the committee that would evaluate the prospectus had not started when the statement was released.

In the initial statement Soltec said it aimed to list on Oct. 29 with a target price of between 3.66 euros and 4.82 euros per share. That would equate to a market capitalisation of 370.5 million and 440.4 million euros.

It later said that statement had been issued in error and confirmed the listing had not received an official green light. ($1 = 0.8548 euros) (Reporting by Nathan Allen and Jesús Aguado; Editing by Kirsten Donovan)

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