Siemens Firms Up Healthineers IPO Plans
By Nathan Allen
Siemens AG (SIE.XE) plans to float a "meaningful minority" stake in its Healthineers unit on the Frankfurt Stock Exchange in the first half of 2018, the company said Monday.
The listing will take the form of a secondary offering of shares from Siemens's existing holding, the company said in a press release.
It didn't specify the exact size of the stake or give a date for the market debut.
Siemens said it plans to retain a majority stake in the listed company for the long term, and it is targeting a dividend payout ratio of between 50% and 60% of net income.
Analysts estimate that Healthineers could have an enterprise value of up to $47 billion, and expect the listing to be Germany's largest public offering since Deutsche Telekom's IPO in 1996.
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(END) Dow Jones Newswires
February 19, 2018 02:46 ET (07:46 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.