Siemens saw the world’s largest healthcare IPO on record with the carve-out of its medical technology business, Siemens Healthineers. At $4.5bn, it was the biggest global IPO in 17 months.
As a trusted financial platform partner, Dealogic helped bookrunners seamlessly execute the transaction through the DealManager network. The IPO was also available on Dealogic Connect, allowing investment firms to send electronic orders directly to banks.
Transaction Details—Siemens Healthineers
Nationality: Germany
Industry: Healthcare
Deal Value ($m): 4,521
Deal Type: IPO, carve-out
Selling shareholder: Siemens
Priced: March 15, 2018
Bookrunners: Deutsche Bank, Goldman Sachs, JPMorgan, BNP Paribas, Bank of America Merrill Lynch, Citi, and UBS
Key Points
- World’s largest healthcare IPO on record, surpassing HCA Holdings’ $4.4bn listing on NYSE in 2011
- World’s largest IPO since October 2016, when German energy firm Innogy listed for $5.2bn
- Pushed healthcare IPOs to the highest YTD volume on record at $6.6bn. Excluding Siemens Healthineers, volume still reached a 4-year high ($2.8bn in 2014 YTD)
- Global IPO volume across all sectors climbed to $33.6bn, the highest YTD level in 4 years ($40.1bn in 2014 YTD), though activity was down 16% year-on-year to 260 IPOs
Top 3 Healthcare IPOs on Record
- Siemens Healthineers, $4,521m | Germany | Frankfurt Stock Exchange | March 2018
- HCA Holdings, $4,354m | United States | New York Stock Exchange | March 2011
- Zoetis, $2,574m | United States | New York Stock Exchange | January 2013
Top 3 Global IPOs in 2018 YTD
- Siemens Healthineers, $4,521m | Germany | Healthcare | March 2018
- PagSeguro Digital, $2,606m | Brazil | Technology | January 2018
- ADT, $1,470m | United States | Professional Services | January 2018
Data source: Dealogic, as of March 15, 2018