German engineering group Siemens set the price range for the planned initial public offering (IPO) of its medical imaging and diagnostics business on Sunday, valuing the division at a smaller than expected 31 billion euros ($38.18 billion).
Siemens announced plans to float Healthineers 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, Siemens plans to sell up to 15 percent of the division - or a maxiumum of 150 million shares - at a price range of between 26 euros and 31 euros per share, it said on Sunday.
That would bring the parent proceeds of between 3.9 billion euros and 4.65 billion euros ($4.8 billion-$5.7 billion).