Schott Pharma shares bounce 16% in Frankfurt trading debut
October 03, 2023:Schott Pharma shares bounce 16% in Frankfurt trading debut. The medical vial manufacturer completed its offer price at 27 euros per share, following an initial cost coverage of 24.50 to 28.50 on September 18. This initial offering gave the site a valuation of up to 4.1 billion euros.
CEO Andreas Reisse explained that going public was a strategic decision to access capital needs. While no plans exist for additional capital raising or mergers and assets, Schott Pharma sought access to resources equal to its competitors.
Schott Pharma registered an 8.4% yearly increase in sales for the first nine months of the 2023 financial year, totaling 670 million euros.
The company specializes in creating vials for mRNA vaccines, diabetes, and obesity drugs, with customers including BioNTech and Moderna. Despite challenges in the country’s economic landscape, it maintains production and sales units across 33 nations, with a strong commitment to investing in Germany.
Following the IPO, Schott Pharma intends to retain a majority stake in the company. It prepares to utilize the funds raised to support its growth and transition towards more environmentally friendly practices. This IPO is a significant event in Germany’s financial history and keeps only the third new listing on the Frankfurt stock exchange.
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