Apax Partners could make a return of at least three times its money with the flotation of German telecommunications group, Versatel Deutschland, in what will be the country's largest listing so far this year.

In total 42.25 million shares in the company will be sold on April 27. Apax will sell 22.55 million of those which will reduce its holding in the company from 96% to 50%. The sale includes an overallotment option of 5.55 million shares.