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The company has valued Schott Pharma AG at a maximum of €4.3 billion and intends to offer 30.1 million shares at a price range of €24.50 to €28.50 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 €987 million.
The Qatar Investment Authority has pledged to purchase up to €200 million (€1 = $1.0665) of stock at the IPO price, with its stake not exceeding 4.99%. BNP Paribas (OTC:BNPQY), BofA Securities, and Deutsche Bank are leading Schott Pharma’s IPO. They are joined by Jefferies and Citigroup (NYSE:C) collaborating with Commerzbank (ETR:CBKG) and LBBW as joint bookrunners.
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.
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