Schott Pharma, Renk to announce IPOs in September - Boersen-Zeitung

FRANKFURT (Reuters) - German companies Schott Pharma and are planning initial public offerings in September as the environment for listings becomes more favourable again, Boersen-Zeitung reported, citing financial sources.

German medicine container maker Schott Pharma, a division of Mainz-based glass group Schott, is expected to publish its so-called intention to float (ITF) on Sept. 5 or 6, the paper said.

Sources had told Reuters in June that the group was looking at late summer for a possible listing, which is being prepared by Deutsche Bank, BNP Paribas and Bank of America and could fetch a valuation of more than 4 billion euros ($4.31 billion).

"An IPO is a very interesting option for us. However, we do not want to say more at this point in time," Schott said in an e-mailed statement.

Meantime, the ITF for Renk, which makes gearboxes for tanks, could be published in the week of Sept. 15, Boersen-Zeitung reported. The company, which is owned by private equity group Triton, could be valued at around 2.5 billion euros in a listing, sources have previously said.

Renk was not immediately available for comment outside business hours.

The German market for IPOs has been muted so far in 2023. Notable exceptions included Hydrogen firm Thyssenkrupp Nucera, one of Europe's biggest listings this year, which went public in July.

($1 = 0.9282 euros)

(Reporting by Christoph Steitz, Editing by Louise Heavens)