German industrial giant Siemens AG continues to make progress in planning for the initial public offering (IPO) of Siemens Healthineers that will mark the health division's formal separation from its parent company, according to an article published on October 24 by Reuters.
The article indicated that Siemens had selected Goldman Sachs, Deutsche Bank, and JP Morgan as the investment banks leading the IPO. Reuters said the IPO could be "one of the largest by a German company in years," with Siemens Healthineers valued at up to 40 billion euros ($47.3 billion).
The IPO could take place in the summer of 2018, with Siemens Healthineers stock listed on either the Frankfurt or New York stock exchanges. Reuters characterized the parent company as promoting the IPO as a way for the health division to raise funds for acquisitions and also offer its own shares of stock for deals. Several medical imaging companies were mentioned as potential targets for acquisition.
