Germany's DKV Mobility plans to push forward with plans to list on the Frankfurt Stock Exchange as soon as next week, in a deal that could value the on-road payments provider at more than 4 billion euros ($4.22 billion), people familiar with the matter told Reuters.
The company aims to raise between 500 million and 1 billion euros for its shareholders, including private equity group CVC Capital Partners, said the people, who spoke on condition of anonymity. DKV is set to announce its intention to hold the IPO as soon as next week, the people said.
No final decision has been made and plans are subject to change, they cautioned.
DKV Mobility and CVC declined to comment.
DKV Mobility would be the third company to attempt an IPO in Germany after the summer lull, on the heels of medical vials producer Schott Pharma and defense contractor Renk.
The United States has seen a flurry of new listings this month, but share prices have come down after an initial rally.
Grocery delivery group Instacart closed below its IPO price on Tuesday, just days after its market debut. Arm Holdings is trading slightly above its issue price after rising 25% on its first day as a publicly listed company.
DKV Mobility offers business-to-business on-road payments services and handled transaction volumes of 17 billion euros last year.
The company sees Edenred (EDEN.PA), Fleetcor (FLT.N) and WEX (WEX.N) as its closest comparables for valuing its share offering, which are all trading up year to date, the people said.
($1 = 0.9473 euros)
