Norma Group is expecting to raise about €430 million from an initial public offering, The Wall Street Journal reports. The company expects proceeds of €150 million from selling new shares, which will be used to slash its debt. The IPO will also include existing shares currently held by 3i Group. The German industrial parts maker appointed Commerzbank, Deutsche Bank and Goldman Sachs as joint global coordinators and joint bookrunners for the deal.

Click here for the story from The Wall Street Journal.