CBR to float at between 14 and 18 euros per share

German women's fashion retailer CBR, whose brands include Street One and Cecil, has set the price range for its initial public offering (IPO) at between 14 euros and 18 euros, the company said on Monday.

CBR plans to use some of the proceeds to reduce its borrowings and for investment in its e-commerce business and retail outlets.

The German womenswear brand's debut on the Frankfurt stock exchange is set for July 2, preceded by a subscription period running from June 23 to July 1, CBR said.

CBR will offer up to 19.4 million shares with a total value of about 282 million euros at the mid-point of the price range, the company explained earlier in June.

The IPO would comprise new shares worth 200 million euros issued in a capital increase as well as stock owned by private equity group EQT, CBR said in a statement. The latter will keep a significant stake in the company, dismissing thus an exit from the company in the near future.

It is worth recalling that EQT bought CBR from buyout groups Apax and Cinven in 2007 for about 1.5 billion euros.

CBR said Deutsche Bank and Goldman Sachs had been mandated as joint bookrunners for the issue, reported Reuters.

According to data gathered by Reuters, CBR posted adjusted earnings before interest, tax and amortisation of 105 million euros in 2014, having increased its core earnings by 7 percent annually since 2012.