LONDON - The Spanish testing and certification company Applus Services said on Wednesday that it planned to raise as much as 300 million euros, or about $414 million, in an initial public offering in Spain.
The public flotation will include a primary offering of new shares by the company, which markets itself under the name Applus+, and a secondary offering of existing shares by its current shareholders, it said.
The company’s current investors include Spanish savings banks and funds advised by the private equity firm The Carlyle Group.
“Today’s announcement marks a major milestone in Applus+’ corporate evolution,†said Fernando Basabe, the Applus chief executive. “Looking ahead, we see exciting opportunities across our markets for further growth and are very well placed to continue to benefit from favorable structural growth trends as well as industry consolidation.â€
Applus, based in Barcelona, provides safety testing and other certification services to the energy, automotive, industrial and infrastructure sectors. The company posted revenue of €1.6 billion in 2013.
The company employs about 19,000 people in more than 60 countries.
Proceeds from the I.P.O. will be used to reduce the company’s debt. Applus intends to list on stock exchanges in Barcelona, Bilbao, Madrid and Valencia.
