According to foreign media reports, Siemens said on Sunday that its medical business unit (Siemens Healthineers) will conduct an initial public offering (IPO) on the Frankfurt Stock Exchange on March 16. Siemens plans to sell 15% of the shares, and the IPO offer range is 26-31 euros. Based on this calculation, if it is fully subscribed, it will raise 3.9 billion to 4.65 billion euros. Goldman Sachs Group, Deutsche Bank and Morgan Stanley will become The main underwriter of the IPO.
The IPO will not only become Germany's largest IPO since Deutsche Telekom's listing in 1996, but will also become the largest IPO in the European market this year.
Siemens Medical Business is the most profitable business unit of Siemens. As of September 30 last year, the business achieved a pre-tax profit of 2.5 billion euros ($3.08 billion) and revenue of 13.8 billion euros. 17.2% in the previous year rose to 18.1%. Overall, its contribution to Siemens revenue and profit was 17% and 30%, respectively.
In fact, the Siemens Medical Division's listing plan was first launched in 2016 and is part of Siemens's CEO Kezer's efforts to restructure and simplify the company's structure. This will buy investors a stake in Siemens. The shares of the business provide opportunities while funding the expansion of the business. Siemens has said that the promotion of the medical business is a crucial first step, the overall goal is to enable Siemens to acquire start-ups that are developing new medical and diagnostic technologies and services, especially in the United States.
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