FRANKFURT, Sept 2 (Reuters) – German companies Schott Pharma and Renk plan IPOs in September as the environment for IPOs becomes more favorable again, Börsen-Zeitung reported, citing financial sources.
German drug container maker Schott Pharma, a division of Mainz-based glass group Schott, is expected to release its so-called “Intention to Float” (ITF) on September 5 or 6, the newspaper said.
Sources told Reuters in June that the group was considering a possible IPO in late summer, being prepared by Deutsche Bank, BNP Paribas and Bank of America, and valuing it at more than 4 billion euros ($4.31 billion). dollars) could achieve.
“An IPO is a very interesting option for us. That’s all we want to say at this point,” Schott said in an emailed statement.
Meanwhile, the ITF for Renk, which makes gearboxes for tanks, could be released in the week of September 15, Börsen-Zeitung reported. Sources say the company, which is owned by private equity group Triton, could be worth around €2.5 billion if it goes public.
Renk was not immediately available for comment outside of business hours.
The German market for IPOs has been subdued so far in 2023. Notable exceptions included hydrogen company Thyssenkrupp Nucera (NCH2.DE), one of Europe’s biggest IPOs this year, which went public in July.
($1 = 0.9282 euros)
Reporting by Christoph Steitz, editing by Louise Heavens
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