March 7, 2018 / 8:12 AM / 3 months ago

Healthineers IPO books covered on full deal size -bookrunner

FRANKFURT, March 7 (Reuters) - German engineering group Siemens has attracted demand for all shares on offer in the initial public offering of its medical imaging and diagnostics business, one of the bookrunners leading the transaction said on Wednesday.

Joint bookrunner Merrill Lynch International said that there was demand for all Healthineers shares on offer, including an overallotment option.

IPOs typically need a book to be at least two times subscribed to be successful.

Siemens announced plans to float the Healthineers unit on the Frankfurt stock exchange two weeks ago, putting it on track for a listing in late March in what would be one of Germany’s biggest listings in recent years.

The offer period is expected to run until March 15. Siemens set the price range for the offering on Sunday, valuing the division at a smaller-than-expected 31 billion euros ($38.5 billion). ($1 = 0.8053 euros) (Reporting by Arno Schuetze Editing by Ludwig Burger)

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