LONDON: Schaeffler AG, the German family-owned industrial company specialising in ball bearings and automotive parts, said it is planning an initial public offering (IPO) to pay down debt, in a listing that is set to be among the largest in Germany this year.
The company might raise about 3 billion euros (US$3.4bil) in the IPO, people familiar with the matter said, asking not to be named because the details aren’t public.
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