German lighting business Zumtobel is planning an IPO on the Vienna Stock Exchange before the summer. Kohlberg, Kravis & Roberts holds a 49.96% stake in the business, which it acquired in 2000 for an undisclosed sum. The Zumtobel family holds the remaining 50.04%.
If the IPO goes ahead, KKR will sell part of its holding. While the Zumtobel family will also reduce its equity interest if the company is floated, it will remain the largest shareholder and will endeavour to retain a holding of at least 30% in the listed company.
Chairman of the executive board of the Zumtobel Group, Andreas Ludwig, said: “The funds raised by the possible increase in share capital will further strengthen our financing structure and thereby create a basis for further growth through innovative products and new technologies. They will also enable continuing global expansion, above all in Eastern Europe and Asia.”