Siemens taps banks for upcoming Healthineers IPO

Siemens (NYSE:SI) reportedly tapped a trio of banks for the upcoming initial public offering for its Healthineers business.

The IPO, which could wind up being one of the largest German flotations in years, is slated to go live during the first half of 2018, Reuters reported.

The industrial conglomerate named Goldman Sachs, Deutsche Bank and JP Morgan as lead organizers for the Heathineers IPO, according to the news service. Siemens confirmed that it’s named investment banks for the offering but did not name them, according to Reuters.

The healthcare business, which Siemens rebranded last year to worldwide scorn, is the company’s most profitable unit with an estimated enterprise value of roughly €36 billion to €37 billion ($39 billion to $40 billion).

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