(Corrects to clarify company descriptor in paragraph 2)
(Reuters) -Auto spare parts distributor Parts Holding Europe (PHE) said on Tuesday it was planning a 450 million euros ($546.21 million) initial public offering (IPO) on Euronext Paris to pay down its debt.
The owner of Autodistribution and e-commerce brand Oscaro, operating in Western Europe, said the French financial markets authority has approved its registration document, a first step for its stock market listing in Paris.
PHE, also known as Autodis, had suspended its IPO plans in 2018 due to a “cautious” market environment. (https://reut.rs/2Q6n3xc)
The company said on Tuesday it was targeting revenues between 1.85 billion euros and 1.95 billion euros this year.
($1 = 0.8239 euros)
(Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich)