Siemens Enterprise Communications IPO watch: The Siemens Enterprise Communications CEO Hamid Akhavan said on Wednesday if there in no significant deterioration in market confidence, the company will launch an initial public offering in the United States in the second half of this year. Siemens holds a 49% stake in the company.
Akhavan said the company will sell a minority stake in the Siemens Enterprise Communications IPO.
Siemens Enterprise Communications mainly provides communication solutions to businesses. Siemens sold a 51% stake in the company to the U.S. private equity firm The Gores Group in 2008.
In addition, Handelsblatt reported that Siemens Enterprise Communications’s EBIT will be 135 million euros this year, flat with the previous year, and the company’s recognized revenue of 2.15 billion euros last year. Akhavan told Handelsblatt revenue growth will exceed 2% this year.
Siemens also plans to list its Osram sector.
Siemens Enterprise Communications IPO