Bookrunner Goldman Sachs has priced the flotation of French battery maker Saft at €26 a share, giving UK private equity firm Doughty Hanson four and a quarter times its money on an investment made less than eighteen months ago.

Saft will raise €243.6m ($201m) and have a stock market value of €485.3m. The issue was priced at the mid-point of a €24.5 to €28.5 indicative bookbuilding range.