2/19/2018, 11:34 AM (Source: TeleTrader)
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Chart for: SIEMENS AG  NA O.N.

Siemens plans IPO for Healthineers unit

Siemens said on Monday that it plans to list its health unit Healthineers in the first half of 2018. Healthineers, which specializes in medical imaging and diagnostics products, is set for an initial public offering that will value the company at about €40 billion, which would mark the largest IPO in Germany since 1996 when Deutsche Telekom was listed.

"Siemens Healthineers is now ready for its market debut," Michael Sen, member of the Siemens managing board. The German corporation added it intends to float "a meaningful minority share" of Healthineers, but retain a majority stake in the business.

Siemens shares rose 0.45% at 11:33 am CET.

Baha Breaking News (BBN) / NP