Balta Group to launch initial public offering

BALTA Group has announced the launch of its €264m initial public offering on Euronext Brussels.

The price range for the offering has been set at €13.25-€16.00 per share.

Balta, which in March acquired California-based carpet manufacturer Bentley Mills, is hoping to raise about €138m ($153.1m) to reduce its debt.

Reuters said: ‘Along with the initial share sale, private equity owner Lone Star would also sell a part of its shares in a secondary offering.’

Since 1 June, Bentley Mills has been selling Balta’s Modulyss carpet tile in the US.