Paris-based floor maker Tarkett filed for an initial public offering yesterday to sell shares on the NYSE Euronext Exchange. A source told Bloomberg earlier this year that the IPO could hit a valuation anywhere from USD 2.5 billion to USD 3.8 billion. The source based the estimates on the valuations of Tarkett's competitors. Private equity owner KKR and the Deconinck family owned equal shares of Tarkett.

Meanwhile, KKR would be exiting the company by selling some of its shares in the IPO. Tarkett Chief Executive Officer Michel Giannuzzi however, said the Deconinck family would be purchasing the stakes and increase its ownership in Tarkett. In June, sources told Reuters that KKR intended to gather about EUR 500 million in the IPO. Giannuzzi did not disclose how much Tarkett would be able to raise from the share sale.

Giannuzzi said Tarkett's earnings before interest, taxes, depreciation and amortization (EBITDA) in 2012 was EUR 260 million. From 2012 to 2016, Giannuzzi said they planned to post profit margins of over 12% based on their EBITDA last year.