FRANKFURT: Siemens will test the appetite of sovereign wealth funds ahead of the planned listing of its healthcare unit Healthineers next year, its chief executive told a German weekly, possibly to secure anchor investors for the flotation.
The listing of a minority of the unit, which makes X-ray and MRI machines, is set to take place in the first half of 2018 and is expected to value Healthineers as a whole at around 40 billion euros (US$48bil).
Siemens is expected to sell 15%-25% of Healthineers, sources have said, implying stock worth six to 10 billion euros could be sold - Germany’s biggest share offering since Deutsche Telekom in 1996.
“Internal preparations are going well and we are still planning the listing in the first half of 2018, if markets play along,” Joe Kaeser told Frankfurt Allgemeine Sonntagszeitung in an interview published on Sunday. — Reuters