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Knorr-Bremse says IPO could be worth up to 4.21 billion euro

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FRANKFURT (Reuters) – Knorr-Bremse, the German brake systems maker that plans to list on the Frankfurt stock exchange, said the initial public offering of shares could be worth up to 4.21 billion euros (£3.74 billion).

The price range for the offering of existing shares, sold by the owners Heinz Hermann Thiele and his family, will be 72 to 87 euros apiece, and the free float will be up to 30 percent after the IPO, it said in a statement.

The offer period will run from Oct. 1-11 with the first day of trading scheduled for Oct. 12.

(Reporting by Ludwig Burger, editing by Riham Alkousaa)

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