Siemens eyes US$5.73b in Healthineers IPO
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| Siemens eyes US$5.73b in Healthineers IPO |
The industrial giant is selling a 15 per cent stake in Healthineers, with the price range set at €26 to €31 per share.
The offer period is expected to begin on Tuesday and last until Mar 15.
Depending on the final offer price and interest in the IPO, "Siemens would receive gross proceeds of between €3.9 billion and €4.65 billion," the group said in a statement.
Healthineers, which makes medical devices such as X-ray machines and diagnostic equipment, is one of Siemens' largest and most profitable divisions and a leading industry player worldwide.
The division recorded revenues of €13.8 billion in the 2017 fiscal year with adjusted profits of €2.5 billion.
That gave it a profit margin of some 18 per cent, according to Siemens.
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