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Eurowag aims for valuation of up to $1.98 billion in London IPO

By Reuters

– Czech firm Eurowag, which provides payment services and a fleet management system to the haulage industry, is set to be valued at up to 1.69 billion euros ($1.98 billion) in its upcoming London initial public offering (IPO), a bookrunner said on Tuesday.

The company, which was founded by majority shareholder Martin Vonhanka in 1995, has priced its listing at 175 pence to 220 pence per share according to Morgan Stanley. The bookrunner said Fidelity and Select Equity have come on board as cornerstone investors, taking up 57 million euros and 47 million euros of shares respectively.

Eurowag plans to sell 200 million euros of new shares and some of its current owners’ existing stock. It’s due to start trading on Oct. 7.

($1 = 0.8537 euros)

(Corrects to read 200 million euros of new shares (not 200 million new shares), paragraph 3)