BERLIN (Reuters) -German medical technology firm Brainlab is planning an initial public offering on the Frankfurt Stock Exchange in the coming weeks, the company said on Thursday. The Munich-based
Brainlab to Launch Initial Public Offering on Frankfurt Exchange Soon
BERLIN (Reuters) -German medical technology firm Brainlab is planning an initial public offering on the Frankfurt Stock Exchange in the coming weeks, the company said on Thursday.
The Munich-based company said it will list on the regulated market and aims to raise up to 200 million euros ($230 million) through the issuance of new shares.
The firm will use the capital increase to grow its business, with a focus on expanding into additional clinical applications, as well as strengthen its balance sheet.
The current owners also plan to place additional secondary shares to ensure significant free float, said the company.
Majority shareholder Stefan Vilsmeier, who founded the company 35 years ago and recently announced his retirement from the operational business, is set to continue to support the company as a long-term investor.
The initial public offering is being organised by Berenberg, Deutsche Bank, Commerzbank, Jefferies, and UniCredit.
Evercore is also advising the company, which has around 2,000 employees.
Brainlab's main products include software systems that are used as navigational tools by surgeons, for example during brain and hip surgery, and for spinal implants and fractures.
($1 = 0.8678 euros)
(Reporting by Christina Amann and Miranda MurrayEditing by Ludwig Burger)
