GE plans healthcare unit IPO


  • Business
  • Thursday, 20 Dec 2018

Last month, GE posted a quarterly loss of $22.8 billion, cut its annual dividend to just 4 cents a share and told investors it was facing a deepening federal accounting probe.

NEW YORK: General Electric Co has (GE) filed confidentially for an initial public offering (IPO) of its healthcare unit, moving ahead with plans to spin off its second most profitable business line, according to sources.

The industrial conglomerate is working with Goldman Sachs Group Inc, Bank of America Corp, Citigroup Inc, JPMorgan Chase & Co and Morgan Stanley on the planned listing, said the sources.

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