* Expected around mid-July - sources
* Will value company at around 700 mln euros - sources
* Expected proceeds of 130 mln euros mainly for debt reduction (Adds valuation, background on company)
By Arno Schuetze
FRANKFURT, June 26 (Reuters) - Germany's Jost plans a listing on the Frankfurt stock exchange, the truck and trailer parts maker said on Monday, adding to a growing list of debuts in Europe's largest economy.
The listing is expected to take place in mid July and will follow those of pizza chain Vapiano and online takeaway food delivery group Delivery Hero.
The private placement will comprise new shares from a capital increase worth around 130 million euros ($145.5 million), as well as stock held by existing shareholders including buyout group Cinven.
The listing is expected to value the company at about 700 million euros ($783 million) including its 260 million euros in net debt, and more than 100 million of the proceeds will be used to pay down debt, people close to the matter said.
Sources had told Reuters last month that Cinven was reviving plans to list Jost, having previously shelved plans for a flotation due to wobbly capital markets.
A listing would prove a positive turn for Cinven, which acquired a majority stake in Jost just weeks before the Lehman insolvency in 2008 and had to agree to a restructuring of the group's finances in 2010 to avert looming insolvency.
Cinven saw its stake in the company cut to 64 percent, while Jost's management retained a holding of more than 23 percent. Junior debt holders converted their claims into preferred shares, giving them a 13 percent stake.
Since then, Jost has acquired the Mercedes-Benz TrailerAxleSystems business from Daimler and boosted its profitable after market business.
In 2016, Jost posted adjusted earnings before interest and taxes of 78 million euros on sales of 634 million.
Listed truck parts maker SAF Holland trades at about 7.7 times its expected core earnings, a valuation Jost is hoping to top given its strong margins.
In the first quarter of 2017, its best ever, Jost posted an EBIT margin of 12.4 percent compared to 8.7 at SAF Holland.
Founded in 1952, Jost is the market leader for automotive landing gears and fifth wheels sold under brands such as Jost, Rockinger, Edbro and Tridec. It has a global market share of more than 50 percent.
It is hoping to benefit from a rebound in the U.S. truck market as well as new Chinese truck regulation and a move by logistics groups to buy trucks.
JP Morgan, Deutsche Bank and Commerzbank are organising the listing with the help of bookrunner BNP Paribas and independent IPO adviser Rothschild.
($1 = 0.8944 euros) (Additional reporting by Alexander Hübner and Maria Sheahan; editing by Jason Neely)