Shares in the newly public healthcare arm of Siemens (NYSE:SI) gained nearly 7% today after raising more than $5 billion in an initial public offering.
Investors paid €28.00 per share for 150 million shares, for a collective 15% stake in Siemens Healthineers (SHL.F), raising €4.2 billion ($5.18 billion). The stock opened up 3.9% at €29.10 apiece and soared as much as 7.1% to €29.98 before settling down to €30.50 per share as of about 1 pm Eastern today, 8.9% over its listing price.
The IPO puts Healthineer’s market cap at €28 billion, or about $34.52 billion, in the lower end of the expected €26 billion to €31 billion range ($32.05 billion to $38.21 billion).
($1 = 0.8116 euros)
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