Report: Rexel IPO announcement likely today

Industrial Distribution staff -- Industrial Distribution, 3/21/2007 5:39:00 AM

Electrical distributor Rexel is likely to announce its plans to go public March 21, Forbes magazine reported.

The launch is subject to approval by AMF, the regulatory body that governs France’s Euronext stock exchange, according to the report, which cited “sources familiar with the project.”

Paris-based Rexel said last month it filed documents with France’s AMF market regulator, marking the first step toward a possible listing on the stock exchange in Paris.

The 800-million-share offering could fetch as much as $9.3 billion, according to the report.

Three private equity firms paid $4.7 billion for Rexel in 2005, when it was purchased from French retailer Pinault Printemps Redoute.

Rexel ranked first on INDUSTRIAL DISTRIBUTION’s 2006 Top 10 List of Electrical Distributors. The company had worldwide sales of $12.2 billion last year.