FRANKFURT (Reuters) - German brake systems maker Knorr-Bremse is putting the finishing touches to preparations for its initial public offering in autumn, expected to be Germany’s second-largest listing this year after Siemens Healthineers.
The company has asked analysts to meet management in the first half of August and subsequently come up with valuation estimates for the supplier of brakes for trucks and trains, sources close to the matter said on Tuesday.
The analysts reports will then be used to market the shares to prospective investors.
Owner Heinz Hermann Thiele is expected to pull the trigger on the Knorr-Bremse IPO and officially announce the deal by mid-September with the listing to take place four weeks later, the people said.
Knorr-Bremse could be valued at around 12 billion euros ($14 bln) in the deal with roughly a quarter of the shares expected to be sold, the people added.
Knorr-Bremse declined to comment.
Reporting by Arno Schuetze; Editing by Andreas Cremer/Keith Weir