(Bloomberg) -- CVC Capital Partners increased the size of its initial public offering by €500 million ($536 million), and is likely to price the share sale in Amsterdam at the middle of an initially proposed range, indicating the depth of investor demand for the long-awaited listing.

Orders below €14 per share “risk missing”, banks on the deal said in terms sent out to investors. That compares to the initial price range of €13 to €15. The firm is also increasing the total deal size, including the greenshoe option, to about  €2.3 billion, from €1.8 billion previously, the terms showed. 

While CVC is selling some new shares in the offering, the bulk of it is coming from existing investors. Shareholders who are selling shares in the IPO include Singapore sovereign wealth fund GIC Pte, Kuwait Investment Authority, a wealth fund run by the Hong Kong Monetary Authority and CVC co-founder Donald Mackenzie. 

CVC’s listing comes amid a resurgence in demand for large European listings, with investors buoyed by rebounding stock indexes and a sharp drop-off in market volatility.

The company had gathered demand in excess of the full deal size throughout the price range, within minutes of starting to take orders for shares.

CVC has been working on a listing since at least 2022, with previous attempts buffeted by market swings. One of Europe’s best-known buyout firms, CVC manages about €186 billion of assets and owns stakes in companies including Swiss watchmaker Breitling and Lipton Teas and Infusions, according to its website.

Blue Owl Capital Inc. plans to invest in as much as 10% of the offering, according to an earlier statement, increasing its stake. 

CVC plans to use IPO proceeds to fuel growth, including scaling the next generation of its funds, pursuing acquisitions and funding a part of the price tag for its acquisition of a majority stake in DIF Capital Partners, announced in September.

The joint global coordinators of the offering are Goldman Sachs Group Inc., JPMorgan Chase & Co. and Morgan Stanley, the filing showed. CVC is set to start trading in Amsterdam on April 26.

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