Siemens Firms Up Healthineers IPO Plans
February 19 2018 - 3:01AM
Dow Jones News
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.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
February 19, 2018 02:46 ET (07:46 GMT)
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