Siemens AG will press ahead with an initial public offering (IPO) of its health-care unit, as chief executive officer Joe Kaeser unloads another key business at Europe’s largest engineering company.
The IPO of a 15 percent stake in Siemens Healthineers is planned for Friday next week, the Munich-based company said in a statement on Sunday.
Siemens expects to generate 3.9 billion euros (US$4.8 billion) to 4.65 billion euros from the offering. The shares will be priced in a range of 26 euros and 31 euros each.
The IPO, which might be the largest in Europe this year, values Siemens Healthineers at as much as 31 billion euros.
That is less than an earlier estimate of as much as 40 billion euros, and the offering comes amid market volatility that temporarily dampened investor appetite.
A bet by Siemens Healthineers on the success of its Atellica portfolio of lab equipment and products, launched last year, is also weighing on the sale.
The IPO is part of a broad overhaul of Siemens by Kaeser, who also merged the wind power unit with Spanish competitor Gamesa SA last year, is combining the company’s train business with that of Alstom SA, and, according to people familiar with the matter, plans to sell the Flender GmbH mechanical drives operation.
Kaeser has likened the moves as shifting the company from being an aircraft carrier to a nimble fleet of ships.
Healthineers posted profit of 2.49 billion euros on revenue of 13.8 billion euros for the year ended Sept. 30 last year, Siemens AG said in November.
BYPASSING CHINA TARIFFS: In the first five months of this year, Foxconn sent US$4.4bn of iPhones to the US from India, compared with US$3.7bn in the whole of last year Nearly all the iPhones exported by Foxconn Technology Group (富士康科技集團) from India went to the US between March and last month, customs data showed, far above last year’s average of 50 percent and a clear sign of Apple Inc’s efforts to bypass high US tariffs imposed on China. The numbers, being reported by Reuters for the first time, show that Apple has realigned its India exports to almost exclusively serve the US market, when previously the devices were more widely distributed to nations including the Netherlands and the Czech Republic. During March to last month, Foxconn, known as Hon Hai Precision Industry
Taiwan Semiconductor Manufacturing Co (TSMC, 台積電) and the University of Tokyo (UTokyo) yesterday announced the launch of the TSMC-UTokyo Lab to promote advanced semiconductor research, education and talent development. The lab is TSMC’s first laboratory collaboration with a university outside Taiwan, the company said in a statement. The lab would leverage “the extensive knowledge, experience, and creativity” of both institutions, the company said. It is located in the Asano Section of UTokyo’s Hongo, Tokyo, campus and would be managed by UTokyo faculty, guided by directors from UTokyo and TSMC, the company said. TSMC began working with UTokyo in 2019, resulting in 21 research projects,
Ashton Hall’s morning routine involves dunking his head in iced Saratoga Spring Water. For the company that sells the bottled water — Hall’s brand of choice for drinking, brushing his teeth and submerging himself — that is fantastic news. “We’re so thankful to this incredible fitness influencer called Ashton Hall,” Saratoga owner Primo Brands Corp’s CEO Robbert Rietbroek said on an earnings call after Hall’s morning routine video went viral. “He really helped put our brand on the map.” Primo Brands, which was not affiliated with Hall when he made his video, is among the increasing number of companies benefiting from influencer
Quanta Computer Inc (廣達) chairman Barry Lam (林百里) yesterday expressed a downbeat view about the prospects of humanoid robots, given high manufacturing costs and a lack of target customers. Despite rising demand and high expectations for humanoid robots, high research-and-development costs and uncertain profitability remain major concerns, Lam told reporters following the company’s annual shareholders’ meeting in Taoyuan. “Since it seems a bit unworthy to use such high-cost robots to do household chores, I believe robots designed for specific purposes would be more valuable and present a better business opportunity,” Lam said Instead of investing in humanoid robots, Quanta has opted to invest
RSS