{"id":62549,"date":"2023-09-18T13:55:13","date_gmt":"2023-09-18T17:55:13","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/schott-ag-plans-e859-million-ipo-for-medical-glassware-division\/"},"modified":"2023-09-18T13:55:15","modified_gmt":"2023-09-18T17:55:15","slug":"schott-ag-plans-e859-million-ipo-for-medical-glassware-division","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=62549","title":{"rendered":"Schott AG plans \u20ac859 million IPO for medical glassware division"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
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Schott AG, the German specialty glassware manufacturer, has announced plans for an initial public offering (IPO) of its medical glassware division, Schott Pharma AG. The IPO, which could raise up to \u20ac859 million ($917 million), is set to be one of the largest stock listings in Germany this year.<\/p>\n

The company has valued Schott Pharma AG at a maximum of \u20ac4.3 billion and intends to offer 30.1 million shares at a price range of \u20ac24.50 to \u20ac28.50 each until September 27. Following the closure of the offer period, the new stock is expected to commence trading in Frankfurt. If underwriters allocate additional shares due to high demand, the fundraising could reach up to \u20ac987 million.<\/p>\n

The Qatar Investment Authority has pledged to purchase up to \u20ac200 million (\u20ac1 = $<\/span>1.0665) of stock at the IPO price, with its stake not exceeding 4.99%. BNP Paribas (OTC:), BofA Securities, and Deutsche Bank are leading Schott Pharma\u2019s IPO. They are joined by Jefferies and Citigroup <\/span><\/span> (NYSE:) collaborating with Commerzbank (ETR:) and LBBW as joint bookrunners.<\/p>\n

This development comes amid signs of a resurgence in Europe’s IPO market after a period of relative inactivity. Other German firms, including military gearbox producer Renk Group and its majority shareholder, an investment company owned by Triton, have also announced their intentions to go public by the end of this year.<\/span><\/p>\n

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.<\/em><\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. Schott AG, the German specialty glassware manufacturer, has announced plans for an initial public offering (IPO) of its medical glassware division, Schott Pharma AG. The IPO, which could raise up to \u20ac859 million ($917 million), is set to be one of the largest stock listings in Germany this year. The company has valued […]<\/p>\n","protected":false},"author":1,"featured_media":4722,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-62549","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nSchott AG plans \u20ac859 million IPO for medical glassware division | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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