Primepulse SE said it is planning to float on the Frankfurt stock exchange in the fourth quarter of this year, the company said on Tuesday. Newly-issued shares worth €250 million ($294 million) will be offered, and the proceeds will be used to buy controlling stakes in technology groups as well as to strengthen existing investments, it said in a statement. While the company declined to comment to Reuters on its potential valuation, a person close to the matter said the free float - or proportion of equity readily available for trading on the exchange - was expected to be 25% - 35% after the Initial Public Offering (IPO). The IPO also includes an over-allotment option to sell more shares equivalent to 15% of the offering’s size, which could be exercised if demand is strong enough. Those shares would be provided by shareholders Stefan Kober, Raymond Kober and Klaus Weinmann, who will remain majority shareholders after the IPO. Deutsche Bank and Hauck & Aufhaeuser are coordinating the IPO with the help of bookrunner Mainfirst.