UPDATE 1-French firm Spie struggles to hook investors for listing - sources
(Adds detail on deal)
By Freya Berry and Matthieu Protard
LONDON/PARIS Oct 8 (Reuters) - French energy services firm Spie is struggling to attract investors for its Paris listing amid tough market conditions, with books still not covered the day before the deal is due to price and start trading, two sources familiar with the matter said.
The company is planning to sell up to 1.2 billion euros ($1.5 billion) of new and existing shares on the Euronext Paris exchange, valuing it at up to 2.75 billion euros.
But after a two-week bookbuilding process Spie may be forced to rethink the deal, with sources saying that the disappointing debuts of European companies such as Rocket Internet were causing investors to shy away from initial public offerings (IPOs).
"Markets are not good but to some degree we have only ourselves to blame," one of the sources said, referring to the poor aftermarket performance of some firms.
Rocket, which made its stock market debut last week, is currently trading down 21.6 percent from its offering price, at 33.9 euros at 1414 GMT.
"Last week was pretty horrible," the second source said. "Business has been slower than anticipated."
Spie had set a price range of 15-18.30 euros a share for the global part of the offering, with employees entitled to a discount. Suite...