Germany’s Schott to launch medical glassware IPO in late summer – source

Germany’s Schott AG plans to launch an initial public offering (IPO) for its pharmaceutical bottles and vials unit Schott Pharma in late summer, a source familiar with the matter told Reuters on Thursday.

A spokesperson for the speciality glass supplier declined to comment on the timing of a potential listing, but confirmed that the move remains “a very interesting option” for Schott Pharma.

Previous reports have estimated that the subsidiary, which makes vials, glass and polymer syringes and ampoules for the pharmaceutical industry, could be valued at 3.5 to 4 billion euros ($3.85 to $4.4 billion) on the stock exchange.

Schott Pharma’s CEO Andreas Reisse said last year that a listing would open up growth opportunities, including acquisitions and partnerships.

Deutsche Bank (ETR:DBKGn), BNP Paribas (EPA:BNPP) and Bank of America (NYSE:BAC) were appointed to advise on the listing last year.

In the first half of the 2022/23 financial year, Schott Pharma’s sales increased by 13.2% to 449 million euros, while EBITDA rose by 16.6% to 132 million euros, according to preliminary results announced on Thursday.

Earlier this month, Thyssenkrupp (ETR:TKAG) announced the long-awaited listing of its hydrogen division Nucera, which could be valued at more than 3 billion euros. Shares are expected to start trading in July.

($1 = 0.9096 euros)