Siemens may float its light bulb unit Osram on the stock exchange in the European autumn, depending on how the market for light-emitting diodes (LED) develops, the German engineering conglomerate's finance chief told a newspaper. "If the (LED market's) cycle goes back up, I could imagine a flotation in the autumn," German weekly Euro am Sonntag cited Joe Kaeser as saying in an excerpt of an interview to be published on Saturday.
Siemens in September pushed back the planned multi-billion euro listing of Osram to a later date as market volatility amid the euro zone debt crisis sent investors running from the European equity capital market.
Also, European LED makers have faced increasing competition from Korean and Chinese competitors eager to tap into growing demand for energy-efficient lighting that is set to unseat incandescent and compact fluorescent light bulbs. Siemens's Kaeser said there are currently signs that the LED industry is reaching its trough. According to Euro am Sonntag, he also said a successful initial public offering of Osram could mean a higher dividend for Siemens shareholders.
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