(Telecompaper) French music streaming company Deezer has launched an IPO of 8.24 million shares priced at between EUR 36.40 and EUR 49.24 per share. The initial size of the global offering is EUR 300 million, based on the low end of the price range. An over-allotment option allows the sale of up to 1.24 million existing shares by DC Music, Idinvest Partners, CMCIC Capital, Daniel Marhely, Thomas Erhel and Xavier Niel for EUR 45 million, based on the low end of the price range. The subscription period for the French public offering is expected to close on 26 October and a day later for the international offering. The price will be set on 27 October. The shares are due to start trading on 30 October. Deezer will use the proceeds to develop and enlarge its subscriber base by investing in marketing, leveraging its ad-supported service and customer relationship management, offering promotions in markets participating in direct web and mobile marketing, and through distribution partnerships with telecom operators and other partners.