JUSH Justice Hldgs

Danish cleaning group ISS Holding A/S said it is planning what would be the country's largest initial public offering since 1994, while Canal Plus France made preliminary filings for a Paris IPO that is expected to raise at least EUR1 billion for the selling shareholder.

ISS Holding said it aims to raise about DKK13.3 billion ($2.42 billion) in new shares and an undetermined amount of existing shares, making it the biggest Danish offer since the government privatized TDC A/S (TDC.KO) in a $3 billion share sale 17 years ago. A secondary offer of shares held by a group of private equity firms that went on to own TDC raised $3.7 billion in December.

ISS's owners, EQT Partners and Goldman Sachs Group Inc. (GS), had considered selling the company privately last year to Apax Partners for around $8.5 billion but in January ended those talks in favor of an IPO. A management roadshow will start within the next 10 days or so.

Copenhagen in the past year has been among Europe's strongest markets for IPOs, with a well-received offer for jeweler Pandora A/S (PNDORA.KO) that raised $1.7 billion in October and a $907 million deal from food ingredients maker Chr. Hansen Holding A/S (CHR.KO) in June that has also traded up.

In Paris, Canal Plus France Thursday said it has filed a registration document with the French stock market regulator, as it reported a 3.1% rise in 2010 revenue to EUR3.96 billion. The company is 80%-owned by Vivendi SA (VIV.FR). Lagardere SCA (MMB.FR), the 20% stakeholder, has been looking to offload the stake through an IPO since failing to interest Vivendi in buying it last year.

And in the U.K., Justice Holdings Ltd. (JUSH.LN), a cash shell that aims to buy a company with an enterprise value of between GBP1 billion and GBP7 billion, raised GBP900 million Monday in a placing at GBP10 per share. Relying heavily on the name recognition and contacts of its three founders, Justice has left wide open the type of company and geography it will target. The founders are billionaire investor Nicolas Berggruen, Bill Ackman, founder of hedge-fund group Pershing Square Capital Management, and Martin Franklin, chairman and chief executive of consumer company Jarden Corp. (JAH).

Berggruen and Franklin previously used a cash shell called Liberty International Acquisition Cor. to buy U.K. life insurer Pearl Group, now called Phoenix Group Holdings (PHNX.LN).

Elsewhere, IPO bankers said more deals are expected in coming months from Russia, despite choppy market conditions last week that led to the cancellation of two deals and the downsizing of a third. One of those, from Russian iron ore producer Metalloinvest, has been mandated to Deutsche Bank AG (DB), Bank of America Merrill Lynch (BAC) and Credit Suisse Group (CS), a person familiar with the matter said.

And a EUR5 billion capital increase from Porsche Autombil Holding SE (PAH3.XE) is in process, with Deutsche Bank and Morgan Stanley (MS) handling the transaction. The deal, which Porsche previously said it wants to complete by May 30, is part of an effort to reduce debt and merge with Volkswagen AG (VOW.XE).

-By Margot Patrick, Dow Jones Newswires; +44 (0)20 7842 9451; margot.patrick@dowjones.com

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