Bpost, Belgium's postal service will float on the Brussels Stock Exchange according to the group on Thursday. This was after minority owner CVC launched the sale earlier this month.
CVC sold 56 million shares priced at Eur14.50 per share piece. This was offered through an IPO near the upper end of the Eur12.50 to Eur15 range according to the group.
The net proceeds from the initial public offering for CVC shares were valued at Eur812. This took the implied market capitalization of Bpost to about Eur2.9 billion.
Bpost said that after the sale, the seller will have a total of 17.34% stake in the company. It will also hold 21.54% if an over-allotment option is not exercised.
Keeping a stake of 50.01%, the Belgian state did not participate in the initial public offering.
Bpost also stated that the trading for the new shares will start on Friday.
For more than three years, the initial public offering is the first in Belgium. It is being watched closely in Britain as it would be the largest privatization for 20 years.
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