Star Capital is preparing to raise €300m ($345m) through the initial public offering of its portfolio company Vincorion SE, a manufacturer of generators, electric motors, drive systems, and other defence equipment, according to a report by Bloomberg.
The offering will sell 17.65 million shares at €17 each, giving Vincorion a market value of roughly €850m. Star Capital has included an over-allotment option that could increase proceeds by up to €45m once trading begins on March 20. The IPO has already secured €105m in cornerstone investor commitments.
Vincorion supplies a custom power network for Raytheon Co.’s Patriot missile system, currently deployed in response to Iranian attacks.
The order period is scheduled to last only three days, reflecting a trend in European IPOs for fast execution to limit exposure to market volatility, similar to earlier offerings from CSG and Asta Energy Solutions AG this year.
Berenberg Bank, BNP Paribas SA, and JPMorgan Chase & Co are acting as joint bookrunners for the transaction. Vincorion’s shares will trade on the Frankfurt Stock Exchange under the ticker VINC.
