June 24 (Bloomberg) -- BHB Brauholding Bayern-Mitte AG, a German beer and beverage company, seeks to raise about 4.48 million euros ($5.5 million) in an initial public offering in Munich next month.
BHB will use the proceeds to accelerate its regional expansion “as a further consolidation among Bavaria’s 674 breweries is to be expected,” management board member Gerhard Bonschab said at a press conference in Munich today. The company will also use the funds to repay debt, he said.
The brewer, which is based in the southern German town of Ingolstadt and has 77 employees, owns brands such as Herrnbraeu, a maker of wheat beer that traces its roots back to 1882.
BHB is scheduled to start trading on the small-company segment of the Munich stock exchange on July 8, according to a statement today. Baader Bank AG is managing the sale of 1.6 million shares at 2.80 euros apiece, and about 52 percent of the company will be freely tradable.
To contact the reporter on this story: Oliver Suess in Munich at email@example.com